HSBC investment bank could cut its clients by a fifth

HSBC building at night

HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100bn over the next two years in its bid to improve profitability.

Reuters reports that under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140bn, which will reduce the significance of the business to the biggest bank.

HSBC said its investment bank, known as global banking and markets (GBM), will sell $40bn of legacy credit positions, cut assets at its rates and markets division by $60bn and reduce low returning loans by $40bn, according to a presentation.

To access the complete Reuters article hit the link below:

HSBC's investment bank to shed clients, assets in profitability push

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