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Published August 11, 2011
HSBC leans up for emerging market growth with $33b sale of US division With 30,000 job cuts across the board and the sale of a big US business, HSBC begins global repositioning with a stronger focus on regions with better growth potential. Amidst financial turmoil triggered by a US credit rating downgrade, HSBC is continuing its gradual exit from activities in the US with the sale of its monoline credit card and private-label credit card businesses to Virginia-based Capital One Financial Corporation for $32.7 billion. The deal ends it... All visitors must register to gain access. Access to selected news, research and our regular e-newsletters is free for up to 10 days from publication. Please login now or subscribe/register.
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