Reversal of the Think Global, Act Local slogans of the 90s that was so familiar in the
War cry out of the corporate boardrooms then.
Now it's, Think Local, Act Global.
HSBC concentrating on India & China even though it's losing money.
Cutting the retail arm but keeping the bleeding arm.
Did I miss something ?
The surplus of Asia, namely China's private wealth probably in the zillions are being pooled
Into a formidable reservoir of funds in the hands of the few.
No wonder they are adding staffs.
Like a chef that has gathered all his ingredients,
He is about ready to cook in this case the market.
The reservoir is filling fast, soon the dam of liquidity will be unleashed in the market
creating a bull run that the world is yet to see in China.
Keeping in mind the backdrop of hedge funds revival. Singapore as the home of hedge funds where all trading is coordinated probably. Kremlin is also setting up a Sovereign fund headed by an Ex-Goldman Sach exec. Goldman Sach separately has created a $5B dollar Yuan fund. Now HSBC pooling it's resources to the point it has to chop it's retail arm elsewhere, to reservoir and build up it's Wealth management in China/Asia. And retail is not the flavor of the season anymore. Who needs Retail where deposits are liabilities besides having to pleased the customers by providing ATM, when you can have Insurance premiums as one of the reservoir.
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