(Bloomberg) -- HSBC Holdings Plc, the world's
third-largest bank by market value, will step up expansion in
emerging markets such as India after mounting mortgage defaults
at its U.S. unit crimped profit, the company's incoming Asia
chief said.
``We're going to have a finance-led emerging markets
focus,'' shifting away from developed markets, said Sandy
Flockhart in a phone interview from Johannesburg. Flockhart, who
takes over HSBC's Asia operations next month, said he plans to
increase hiring in countries including India and China.
Read more at Bloomberg Emerging Markets News
third-largest bank by market value, will step up expansion in
emerging markets such as India after mounting mortgage defaults
at its U.S. unit crimped profit, the company's incoming Asia
chief said.
``We're going to have a finance-led emerging markets
focus,'' shifting away from developed markets, said Sandy
Flockhart in a phone interview from Johannesburg. Flockhart, who
takes over HSBC's Asia operations next month, said he plans to
increase hiring in countries including India and China.
Read more at Bloomberg Emerging Markets News
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