HSBC's China fund management strategy today is the strategy of two years ago, complains one former HSBC staffer in Hong Kong. It's has missed out becoming a dominant player in China's asset management industry.
Indeed, despite the bank's historic tie-up with Bank of Communications BoComm, the asset management unit of the world's second largest banking giant by assets has so far signally failed to capitalize on its unequalled stature in China and may soon lose out to one of its chief rivals in Hong Kong.
HSBC has officially invested some $4.6 billion in China since 2001, including $2.75 billion for a 20% stake in...
