HSBC to sell most US branches to Citizens Bank, Cathay Bank in partial retreat from America as competition bitesSouth China Morning Post

Source: South China Morning PostHSBC, the biggest of Hong Kong’s three currency-issuing banks, said on Thursday it will exit its mass-market retail business in the United States and focus on serving wealthy clients and international companies there as part of the 156-year-old lender’s latest revamp under CEO Noel Quinn.The London-based bank said it would sell its mass-market and retail business banking operations on the East Coast to Citizens Bank, part of Citizens Financial Group, and sell its West Coast mass-market and…Read More

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