As we’ve said before, HSBC’s ‘pivot to Asia’ strategy is nothing new.
One could take many comments from Noel Quinn and Mark Tucker at Tuesday’s fourth-quarter announcement, mix them up in a hat with comments from Stuart Gulliver and Douglas Flint from a decade ago and find them largely interchangeable.
In fact, it is so intuitive as to be stating the obvious.
Of course HSBC should pivot to Asia. If anything, the question is why it should have pivoted anywhere but Asia.
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