HSBC Plans to Exit Parts of IB Units in U.K., Europe & U.S.

HSBC Holdings PLC (HSBC) plans to close its mergers and acquisitions (M&A) and some equities businesses in Europe and the Americas to enhance its focus on the Asian region. This was first reported by Bloomberg.Rationale Behind HSBC’s RetrenchmentThe move aims to accelerate the shift from Western markets to Eastern regions where HSBC has higher profitability.Michael Roberts, CEO of HSBC Bank, stated, “Our intention is to move to a more competitive, scalable, financing-led model.” The bank also mentioned reta ...