LONDON May 23 HSBC's Chief Executive
Stuart Gulliver told shareholders at the bank's annual meeting
that it had no plans to follow rivals by significantly
re-shaping its investment banking business.
"There's no real need to change ours. I don't see any need
to exit large chunks of the business. We will continue to invest
in the organic growth of GBM (investment bank arm Global Banking
and Markets)," he said.
Gulliver was referring to recent plans announced by Barclays
to shrink its investment bank and by Deutsche Bank
to raise billions of euros and grow its investment
bank in the United States.
(Reporting by Steve Slater and Matt Scuffham; Editing by Chris