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HSBC Holdings PLC To Cease Wealth Management Business In Some Mideast Countries-Reuters


Monday, 2 Sep 2013 07:43am EDT 

Reuters reported that HSBC Holdings PLC will stop offering wealth management products in Bahrain, Jordan and Lebanon as the British lender continues to exit small or insufficiently profitable operations globally as part of a strategic review, the bank said. Existing customers will continue to receive basic services and their wealth management-related investments will be maintained until maturity, the lender said, adding the decision has not prompted job losses.