HSBC Chairman Mark Tucker leaned into the microphone at a vast conference table in Beijing, telling British business leaders and senior Chinese officials that he spoke for all UK businesses present in hoping for stronger economic ties. Tucker, chairman of Europe’s largest bank, was flanked by UK finance minister Rachel Reeves, who had invited him to lead a delegation aimed at enlisting Chinese support for Britain’s growth agenda. Just a few weeks later, the lender would reveal plans to wind down its mergers and acquisitions and equity capital businesses in Europe and the Americas, capitulating to Wall Street rivals who have dominated the scene in recent years.Read More
Analysis-HSBC’s global brand in the balance as it doubles down on Asia bet
