HSBC Holdings plans to exit #retail #banking and wealth management in South Korea, the bank’s latest move to rid itself of inefficient #businesses. HSBC will eliminate around 230 jobs as it winds down those operations but will continue to operate its more-profitable investment banking business in South Korea, according to sources. KDB 대우증권, one of South Korea’s biggest banking groups, had been in talks last year to buy HSBC’s South Korean retail banking business, which HSBC deemed non-core in early 2012. But discussions ended in July last year because KDB Financial didn’t want to take on all of HSBC’s employees as part of the deal. - Times of Oman
Posted on: Sun, 07 Jul 2013 12:35:16 +0000
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