Article

China: HSBC to add 1,000 new jobs in Asian wealth business


Added on 27/03/2017

After closing more than 60 branches in the UK recently, the bank was reported to have moved over 200 IT-related jobs to Asia, reports Hubbis.

 

This is part of a broader trend where lenders are looking to cut costs, and Asia provides the potential to lower labour overheads.

 

The report said HSBC’s expansion will impact its Chinese retail banking and wealth management arm – adding to an existing team of 2,400 employees in the mainland.