HONG KONG -- HSBC on Monday announced it is acquiring competitor Citigroup's retail wealth management business in China, as the U.S. bank continues to wind down the Asian consumer franchise business.
Business deals
HSBC to acquire Citi's retail wealth management business in China
Sale is part of U.S. bank's plans to exit consumer franchise in 14 markets
HSBC says it is acquiring Citi Group's retail asset management business in China. (Photo by Kenji Kawase)
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