HSBC Holdings PLC is following through on plans to bulk up in Asia. The U.K.-headquartered bank expects to add 3,000 employees in China’s Pearl River Delta, a region that includes cities like Shenzhen and Foshan, to expand its retail banking business. HSBC currently employs about 13,000 in that region and will increase the head count over the next three to four years. Peter Wong, HSBC’s chief executive for Asia-Pacific, gave...
HSBC is planning to expand its retail banking business in Pearl River Delta by adding 3,000 employees in China's Asia, this region includes cities Shenzhen and Foshan. HSBC is hoping to increase pretax profit in this region 10 times to $1bn within five years. HSBC chose to locate in the Asia as is home to a growth middle class, a demographic which the bank hopes to generate business from. Chairman, Douglas Flint said the Asia, “could represent another Hong Kong in terms of opportunity for HSBC.”