HSBC insurance sales

HSBC gets leaner and meaner

Gulliver’s got guts. He’s slicing away the non-core HSBC businesses. The latest move: sell some of the general insurance units in Asia and Latin America for $914 million.
<div style="text-align: left;"> Stuart Harrison, CEO of Axa Hong Kong (left) and Francois-Valery Lecomte, regional CFO of Axa Asia </div>
<div style="text-align: left;"> Stuart Harrison, CEO of Axa Hong Kong (left) and Francois-Valery Lecomte, regional CFO of Axa Asia </div>
March 08, 2012

HSBC chief executive Stuart Gulliver has an ambitious plan. He wants to cut annual costs by $3.5 billion by selling off non-core businesses and focusing on markets that promise growth.

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