May
26
HSBC Considering ‘Strategic Options’ for Brazil Business
ByLONDON — The British bank HSBC confirmed on Friday that it was exploring “strategic options” for its Brazil business, including selling it.
HSBC has exited dozens of underperforming businesses in recent years and is under pressure to pare back its operations further as regulatory costs continue to mount and it faces stricter capital requirements.
In February, Stuart Gulliver, the bank’s chief executive, identified the Brazilian business as one of four “problem” markets where HSBC may seek more extreme restructuring measures if returns did not improve. The bank also is seeking improvement in its operations in Mexico, Turkey and the United States…
HSBC Considering ‘Strategic Options’ for Brazil Business
