HSBC Holdings Plc (00005.HK) is considering establishing a regional headquarters in Guangdong to better serve businesses in the Pearl River Delta region.
The plan is part of its goal to achieve an annual pre-tax profit of US$1 billion in five years, the Hong Kong Economic Journal reported on Monday.
Helen Wong Pik-kuen, Greater China chief executive of HSBC subsidiary The Hongkong and Shanghai Banking Corp., said establishing a regional office in Guangdong is seen as a natural step for the group given the growing business scale in the province.
Wong did not give a timetable for the plan.
The proposed regional headquarters will be the bank’s second in China after the one in Shanghai. The bank is also planning to build a business tower in Beijing.
The subsidiary is aiming to increase its workforce for banking businesses in the province to 4,000 people in five years from about 1,000 currently.
It now has 12,000 back-office staff in support of its operations and corporate information technology services in the province, Wong said.
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