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

HSBC, a bank with a 159-year history, is undergoing a significant strategic shift by focusing more intensely on Asia, where it earns most of its profits. This pivot comes as the bank faces challenges in its Western markets, including a potential delisting from the FTSE 100 due to its headquarters relocation to Hong Kong. The move to Asia is part of a broader strategy to capitalize on the region's growth potential, especially in wealth management, despite the complexities of navigating geopolitical tensions and regulatory environments. Critics argue that this focus might dilute HSBC's global brand identity, traditionally seen as a bridge between East and West. However, HSBC's CEO, Noel Quinn, remains committed to this strategy, believing that Asia's economic dynamism will drive future growth, even as the bank contends with issues like the potential sale of its Canadian business and managing its exposure to China amidst U.S.-China relations.

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[ https://www.msn.com/en-us/money/other/analysis-hsbc-s-global-brand-in-the-balance-as-it-doubles-down-on-asia-bet/ar-AA1y1Wbl ]