From Yahoo Finance: 2025-05-30 17:03:00

HSBC is exiting its business banking portfolio in the United States to simplify operations and focus on Asia and the Middle East. The move will impact about 4,500 clients, and the bank has already laid off 40 employees in the U.S. business banking division. HSBC is also winding down M&A and equities businesses in the Americas and Europe. In 2021, the bank announced it was withdrawing from U.S. mass market retail banking and sold its Canadian business to Royal Bank of Canada for C$13.5 billion.



Read more at Yahoo Finance: HSBC to close its US business banking unit to simplify operations