HSBC rules out plans to overhaul investment bank arm
26/05/2014 2:31 am EDT

share with your network:

HSBC shareholders have been told by the bank’s chief executive, Stuart Gulliver, that Europe’s biggest bank had no plans to follow rivals by dramatically reshaping its investment bank, Reuters has reported. Gulliver said the bank’s Global Banking and Markets (GBM) investment banking arm had grown its revenue in recent years and taken market share from rivals that were shrinking. “We have a very different FICC (fixed income, currencies and commodities) model. There’s no real need to change ours,” Gulliver said. “I don’t see any need to exit large chunks of the business. We will continue to invest in the organic growth of GBM,” he said.

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.