HSBC remains bullish on Japanese wealth strategy
The global financial crisis is unlikely to affect HSBC's push into Japan as Europe's biggest bank remains bullish on the millions of wealthy in the world's second-largest economy, HSBC's top executive in Japan said, according to a report in Trading Markets.
HSBC is poised to achieve its targets for "HSBC Premier", the retail business it launched earlier this year to target Japanese high net worth individuals with at least Y10m (€72,765) in liquid assets, Stuart Milne, country manager for Japan, told Reuters.
The UK bank, which has so far opened six centres in Japan, could eventually expand its branch network to as many as 30 outlets, Milne said.
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