HSBC Could Drop 40 French Corporate Clients as Part of Cost Cuts
- Reductions detailed in document designed to aid negotiations
- Europe’s biggest bank is carrying out global overhaul
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HSBC Holdings Plc is exploring whether to cut ties with dozens of French companies as part of its sweeping global restructuring.
The lender’s French unit may drop 40 businesses, according to an internal document prepared by external consultants and seen by Bloomberg News. The plan would shrink its French corporate client base by a fifth.