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HSBC's New Chief Says He's Open to Asset Management Deals

  • Follows France’s Amundi and upcoming Deutsche Bank unit IPO
  • HSBC wants to grow undersized business as margins narrow
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New Chief, New Deals at HSBC
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HSBC Holdings Plc’s new Chief Executive Officer John Flint says he’s exploring all options for the lender’s asset management unit, including a merger, to create a larger player that can compete better as the industry consolidates.

“We continue to do a lot of work around asset management, to explore all the options, but it’s too early to give any indications as to what we might do with it,” Flint said on Tuesday when asked if the bank has had, or would consider, merger discussions with a rival.