HSBC to target wealth management in latest strategic shift

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC Holdings Plc’s search for growth is targeting wealth management as a potential new profit engine as it deepens its focus on Asia.

In a presentation this week outlining the embattled lender’s second strategic reset in a year, Chief Executive Officer Noel Quinn told about 250 top managers that HSBC aims to become one of the world’s biggest wealth managers.

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