HSBC growth in asset management
HSBC Global Asset Management has grown its funds under management by 13.4% year on year as the largest European bank doubled its pre-tax profit for 2017.
Total revenue for the asset management business was at $281m for the fourth quarter of 2017, up from $252m year on year.
New HSBC chief executive John Flint says: “The fundamentals of HSBC will remain the same as they always have – strong funding and liquidity, strong capital, and a conservative approach to credit.”
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