HSBC explores bolstering Singapore to balance China reliance, Bloomberg News reports
Today 24:55
HSBC explores bolstering Singapore to balance China reliance, Bloomberg News reports Nov 12 (Reuters) - HSBC HSBA.L has been exploring ways to ease its reliance on China, including Hong Kong, and give more independence to its Singapore operations, Bloomberg News reported on Thursday, citing people familiar with the matter.
The report also cited a statement from Surendra Rosha, HSBC's co-CEO for Asia and the Middle East, confirming that the bank will combine its separate units in Singapore as part of a simplification drive, but that it has no further plans beyond that.
(Reporting by Rodrigo Ramirez in Mexico City; Editing by Sherry Jacob-Phillips)
((rodrigo.ramirez@thomsonreuters.com; +52 444 235 4054))