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HSBC mulls 30 pct share of Asia fund, wealth management industry - report


Published : Mon, 23 Apr 2007 03:00
By : Agencies
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HONG KONG (XFN-ASIA) - HSBC plans to increase its share of Asia's fund and wealth management businesses to 30 pct from 25 pct, a report said.

The South China Morning Post, citing Mark McCombe, the group's newly-appointed chief executive of investment businesses, said that emerging markets in the region, particularly China and India, would continue to be the focus of expansion for the group's fund and wealth management businesses.

He said strong economic growth in the region offers a bright opportunity for asset management companies.

jun.concepcion@xfn.com

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