HSBC reportedly plans to combine Hang Seng’s investment arm with its fund business
HSBC ($HSBA) plans to absorb Hang Seng Investment Management into its asset-management business, Reuters reported, citing two people familiar with the proposal. The units oversee roughly $50 billion and $876 billion respectively. HSBC declined to confirm a merger, while saying it wanted greater scale in asset management and would retain Hang Seng as a separately licensed bank. Hang Seng already became wholly owned by HSBC Asia Pacific following its earlier privatisation and removal from the Hong
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