Reported 3 days ago
HSBC is closing its business banking unit in the United States as part of its strategy to streamline operations and concentrate on growth in Asia and the Middle East. The decision will impact approximately 4,500 clients, while the bank supports their transition to alternative providers. This move follows HSBC's ongoing efforts to reduce its global presence and shift focus, having previously exited U.S. retail banking and making significant organizational changes.
Source: YAHOO