HSBC plans to add 4,000 employees in Pearl River Delta region

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.