HSBC Holdings intends to add 4,000 jobs in the Pearl River Delta as it pares down operations elsewhere in the world by around 50,000 over the next 3-4 years, Bloomberg reported, citing an interview with the firm’s Asia-Pacific Chief Executive Officer Peter Wong in the Hong Kong Economic Times. The new hires would be a 30% increase from the 13,000 employees currently working in said region. HSBC hopes to increase its pretax profit in the Pearl River Delta to US$1 billion within five years from US$100 million last year, Wong told the paper. CEO Stuart Gulliver said in August that the bank was planning to redeploy about half of its US$180-230 billion in risk-weighted assets in Asia.
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