LONDON: HSBC Holdings Plc may partially exit stock trading in some developed Western markets as part of a cost-cutting drive by Noel Quinn, the interim chief executive who wants the top job on a permanent basis.
Equities sales and trading units in France, Germany, the United States and the United Kingdom are likely to be scaled back, according to sources. HSBC’s Asian equities operation isn’t affected by the review, the sources said.
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