HSBC to grow investment bank to serve IPO demand from Asia and Middle East start-ups
The bank said it would restructure to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US HSBC will expand its investment banking business to serve the rising demand of companies from Asia and the Middle East for initial public offerings (IPOs), said the co-CEOs of the bank's biggest profit centre. The plan aligns with the bank's restructuring to focus on high-return areas like Hong Kong and India, as well as exit low-profitability markets like Europe and the US. Hong Kong sits atop the world's IPO league table, after 27 companies raised US$9.96 billion this year as of last week, according to the London Stock Exchange Group. India's two bourses - the National Stock Exchange and Bombay Stock Exchange - ranked fourth and fifth in the same period, with 113 companies raising US$7.72 billion. Do you have questions about the biggest topics and trends from around the world? Get the answers with...