HSBC Singapore on track for targets in merged arms

Singapore

AMID a shake-up at the global level, HSBC Singapore is still on track to grow its headcount and revenues in its retail banking and wealth management segment, and also in its private banking arm, said two senior executives.

The region accounted for about half the bank's revenue and most of its operating profit in 2019. Under the ongoing restructuring, the bank will double down on Asia, as it slashes up to 35,000 jobs globally and scales back on its non-performing units in the US and Europe.