HSBC: making a success of ’investment banking-lite’
If anyone had suggested 18 months ago that HSBC’s investment banking business would be turning a healthy profit in 2008 while luminaries such as Citigroup, Lehman Brothers, UBS and Merrill Lynch would be racking up losses, they would have been pointed in the direction of a good psychiatrist. David Rothnie finds that a novel strategy is paying dividends.
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