HSBC investment bank could cut its clients by a fifth

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

Britain to start selling shares in RBS as Osborne swallows loss

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News