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HSBC Holdings Plc Chief Executive Officer John Flint said the bank plans to pour as much as $17 billion to expand in key Asian markets and improve technology, in his first wide-ranging plan since taking the helm four months ago.
Europe’s largest bank is partly investing roughly two-thirds of that amount by 2020 to build its presence in Hong Kong, the Pearl River Delta, and wealth in Asia, the bank said in a statement on Monday. The rest will be spent on technology upgrades such as in cybersecurity. It’s also targeting a return on tangible equity of more than 11
