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HSBC to shut down private banking arm in India
short by Nihal Thondepu / on Friday, 27 November, 2015
HSBC announced on Friday that it will shut down its private banking business in India. The bank claimed this is a part of its strategy to "simplify business and deliver sustainable growth". The wealth manager said it will work closely with its clients to minimise inconvenience. This is the third such exit after the Royal Bank of Scotland and UBS.
read more at Reuters