Exclusive-HSBC to acquire Citigroup China consumer wealth business -sources

📆 28/09/2023 07:21:00
📰 YahooFinanceCA

⏱ Reading Time:
20 sec. here
2 min. at publisher
📊 Quality Score:
News: 11%
Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

HSBC is set to acquire Citigroup's China consumer wealth management business, which manages more than $3 billion in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country. The transaction, the financial details of which were not immediately known, will also see Asia-focussed HSBC taking over 'a few hundreds' of Citi's China-based staff, said one of the sources. Both Citi and HSBC declined to comment.

China's electric-vehicle sales continue to grow. Naturally, industry experts think a move into the US could be imminent.For many years, Alberta has been among the priciest provinces in Canada when it comes to car insurance rates.

This has continued to worsen over the last five years and a new report suggests that legal costs are largely to blame.The Insurance Bureau of Canada commissioned a study by consulting firm MNP, which has found legal costs alone account for 20 per cent of the premiums drivers pay. This amounts to approximately $1.2 billion between 2018 and 2022, and legal costs have ballooned 31 per

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market remains resilient, not overly extended: CitigroupDespite the uncertainty of what lies ahead for the Federal Reserve after pausing interest rates, the market has not overreacted to the news. Yahoo Finance's Seana Smith and Brad Smith break down comments from Citigroup Strategist Chris Montagu about the extended selloff in markets this morning. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »