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| Name | Symbol | Market | Type |
|---|---|---|---|
| HSBC Holdings PLC | NYSE:HSBC | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.12 | 0.28% | 43.70 | 43.96 | 43.51 | 43.81 | 2,274,576 | 01:00:00 |
From May 2019 to May 2024
By Gabriele Parussini
MUMBAI--HSBC Holdings Plc is shutting down its private banking business in India, as part of efforts to slim down its global operations.
HSBC India will move the 70-odd staff who work at its private banking business to its retail arm, a spokesman for the bank in Mumbai said Friday.
HSBC, like many other large global banks, is reducing costs as it faces more stringent regulation and tougher capital requirements. Europe's largest bank by assets is also trying to weather a slowdown in key Asian markets.
It has promised to shed assets, slash up to 50,000 jobs in the next two years and cut costs to boost returns.
Write to Gabriele Parussini at gabriele.parussini@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 27, 2015 06:09 ET (11:09 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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