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Clutching at Pearl River

30 December 2020 By Liam Proud, Jennifer Hughes

Noel Quinn’s plan to cut costs and shift assets away from America and Europe has failed to boost the bank’s shares. In 2021 he’ll have to opt for more radical moves, like selling the U.S. retail network and spinning off HSBC’s $15 bln UK arm. A higher valuation should follow.

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