HSBC hires 100 advisers in China ahead of 'mobile wealth' launch
HSBC is hiring 100 wealth advisers in mainland China as the bank continues its expansion in the country ahead of the launch of an app-based financial advice and insurance service.
The UK-based, Asian-focused, bank is pushing ahead with its China expansion despite recently relaunching an overhaul of its worldwide operations which will involve the shedding of 35,000 jobs.
The additional 100 advisers will be providing wealth advice, including insurance, to clients in Shanghai and Guangzou initially, before the digital service is rolled out across the country, according to reports.
Greg Hinston, regional head of wealth and personal banking for Asia-Pacific said, "These new investments mark HSBC's continued efforts to capture high growth opportunities in Asia, particularly in mainland China, the region's biggest wealth pool and one of the world's largest insurance markets."
Last month HSBC sparked controversy by endorsing China's now-implemented security law for Hong Kong. However, HSBC shares initially rose on the news.
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