HSBC on track to meet China wealth hiring target despite economic headwinds

HSBC is set to expand its China wealth business by increasing its headcount to 3,000 by 2025. The bank has already recruited 1,500 wealth managers in China since 2011 and plans to continue hiring despite the country's economic challenges. This expansion aligns with HSBC's digital-focused "Pinnacle" strategy and its commitment to investing $3.5 billion in the Asian region in 2021. The bank estimates that China's household wealth will increase by 8.5% annually from 2022 onwards.

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