HSBC Says U.S. Unit Among Most Challenging Parts of Strategy
- Returns there forecast to climb to 6% on ‘organic growth’
- HSBC mulled pulling back from U.S., buying rival, Flint says
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Fixing HSBC Holdings Plc’s troubled U.S. division will be one of the toughest parts of the lender’s new $17 billion strategy, Chief Executive Officer John Flint said.
“Of all the things we have to execute on in the next three years, this is one of the most challenging pieces,” Flint said on a call with reporters Monday. “We’ve struggled with this for a while.”