HSBC to transfer Singapore retail, wealth arm to locally incorporated subsidiary

HSBC to transfer Singapore retail, wealth arm to locally incorporated subsidiary

A Swiss International aircraft flies past the HSBC headquarters building in the Canary Wharf financial district in east London February 15, 2015. REUTERS/Peter Nicholls

Europe’s biggest lender HSBC plans to transfer its Singapore retail and wealth management business to a locally incorporated subsidiary on May 9, the bank said on Friday.

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