Citigroup is in negotiations to sell its China-based retail wealth business to HSBC.
The move, part of Citi’s wider plans to divest its consumer banking interests beyond its home territory, is likely to be announced next month.
Investment Banking
Citi in talks to sell China-based wealth arm to HSBC
Citi’s private bank business, which serves high-net-worth Chinese clients from locations outside of China, remains intact however
