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HSBC to invest $15-17 billion by 2020 as strategy pivots to growth

Reuters  |  LONDON 

By Lawrence WhiteLONDON (Reuters) - HSBC will invest $15-17 billion in the next three years in areas including technology and its core Asian markets of Hong Kong and China as it swings from a strategy of cost-cutting to growth, new Chief Executive John Flint said on Monday.The announcement is Flint's first public indication to shareholders of the strategy he intends to pursue at HSBC, which has struggled to meet its profit goals in recent years after a shrinking of its global empire also cut income.The update marks a definitive pivot in HSBC's post-2008 crisis strategy, from cost-cutting and ...

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First Published: Mon, June 11 2018. 14:35 IST