Wealth and Asset Management
HSBC Private Bank Profit Slumps Amid Swiss Client Outflow
HSBC Holdings Plc, Europe’s largest lender, said full-year earnings at its private bank dropped 81 percent as customers pulled money from its Swiss cross-border business and the firm made provisions for regulatory probes. Pretax profit from private banking declined to $193 million from more than $1 billion a year earlier,…
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