Wealth and Asset Management
HSBC Wealth takes a hit while global private banking rises in 2022
HSBC Wealth saw revenues of $8.1bn in 2022, 8% or $0.7bn down from 2021, attributed to lower life insurance manufacturing. However, investments in Asia aided net new invested assets to reach $80bn during 2022 for HSBC. Global Private Banking revenue was $0.2bn, or 13%, higher year-on-year to hit $1.978bn thanks…
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