HSBC Quits U.S., European Dealmaking and IPO Advisory
HSBC is pulling back on Wall Street. The London-based bank plans to stop advising companies on doing deals and going public in the U.S., the U.K. and continental Europe, according to a memo sent to staff Tuesday. In the Middle East and Asia, where HSBC is a stronger player in investment banking, it will continue to work on mergers, acquisitions and stock issuance.
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