HONG KONG, June 11 (Reuters) - HSBC ( HSBC ) said on

Tuesday it had boosted its headcount in China by more than 300,

as the Asia-focused lender completed the acquisition of

Citigroup's ( C/PN ) consumer wealth portfolio in the world's

second-largest economy.

The portfolio of investment assets and deposits and clients

across 11 major cities in mainland China has also been

integrated into HSBC ( HSBC ) as part of the acquisition of the business,

the London-headquartered bank said.

The completion of the acquisition adds to a list of moves by

HSBC ( HSBC ) to expand in China, one of its key markets, as Europe's

largest lender vows to exit less profitable geographies to focus

on its key revenue generator, Asia.

The portfolio acquisition demonstrates HSBC's ( HSBC ) "commitment to

the Chinese market and to helping our clients diversify their

assets and enhance their long-term returns," said Nuno Matos,

CEO of the bank's wealth and personal banking business.

In 2023, HSBC ( HSBC ) in mainland China grew wealth invested assets

by 53% and its wealth client base by more than 30% year on year,

the bank said in a statement.

The deal, announced last October, covers total deposits and

investment asset under management of about $3.6 billion.