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HSBC's global brand in the balance as it doubles down on Asia bet

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HSBC Chairman Mark Tucker leaned into the microphone at a vast conference table in Beijing, telling British business leaders and senior Chinese officials that he spoke for all UK businesses present in hoping for stronger economic ties.
HSBC Holdings is intensifying its focus on Asia as part of its strategic pivot, aiming to capitalize on the region's growth potential. The bank has announced plans to invest $6 billion in Asia by 2025, with a particular emphasis on expanding its wealth management and insurance businesses. This move comes as HSBC seeks to rebalance its global brand presence, reducing its exposure in Western markets where growth has been slower. The strategy includes enhancing its digital capabilities and physical presence in key Asian markets like China, Hong Kong, and Singapore. This shift is part of HSBC's broader transformation under CEO Noel Quinn, who has been steering the bank towards Asia since taking the helm, aiming to make HSBC the leading international bank in the region.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/hsbcs-global-brand-balance-it-doubles-down-asia-bet-2025-01-29/ ]