HSBC did not immediately respond to a Reuters request for comment
International news via Reuters:
HSBC is disbanding a division that serves small and medium-size companies in the U.S. affecting roughly 4,500 clients, the Wall Street Journal reported on Friday.
Most of the clients HSBC is letting go are domestic, rather than U.S. subsidiaries of international companies, according to the report.
HSBC did not immediately respond to a Reuters request for comment.
In 2021, the bank said it was withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others.
Reporting by Jaiveer Singh Shekhawat in Bengaluru
