HSBC’s Private Bank Shuts IAM Business in HK, Singapore
- Bank discontinues business with external managers after review
- HSBC says committed to providing solutions for family offices
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HSBC Holdings Plc’s private bank has discontinued its independent asset management business in Hong Kong and Singapore following a strategic business review, a bank spokesperson said.
“We will make this change as smooth as possible for the affected clients,” the spokesperson said in a statement. It remains committed to providing solutions for single and multi-family offices, the spokesperson said.