09:22 AM EDT, 04/09/2024 (MT Newswires) -- HSBC Holdings ( HSBC ) is planning to fuel the expansion of its wealth operations in China and is on track to almost double its headcount by 2025, Reuters reported Tuesday, citing Nuno Matos, the company's head of global wealth.

Under its digital hybrid wealth project, HSBC ( HSBC ) hired roughly 1,700 wealth managers in China since 2021 and is on track to raise the number to 1,900 by the end of 2024 and attain a target of 3,000 next year, the report said, citing Matos as saying on the sidelines of the HSBC Global Investment Summit in Hong Kong.

HSBC ( HSBC ) also anticipates expanding its mainstay wealth business in India, the report said, citing Matos.

HSBC ( HSBC ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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