HSBC Holdings plc (NYSE:HSBC) reportedly aims to double its British wealth assets to £100 billion (around $131 billion) within five years, focusing on the ‘mass affluent’ market for higher fee income.
HSBC plans to become a top-five player in Britain by leveraging its global reach to attract customers who bank with it in multiple markets or are from overseas, reported Reuters, citing the lender’s UK wealth and personal banking head, Jose Carvalho.
Carvalho said, “International connectivity is our competitive advantage and is driving growth.” and added without giving numbers, “The bank plans to hire more advisors as part of the push.”
The push reflects banks’ aim ...
