Citi sells China wealth enterprise to HSBC

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Citigroup will promote its shopper wealth portfolios in China to HSBC for $3.6 billion, the financial institution stated Monday.   The sale, which incorporates Citi’s shoppers, belongings underneath administration and deposits is a part of the financial institution’s plan to wind down its shopper banking enterprise in China as a part of its broader restructuring, Citi stated in an Oct. […]

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