When it comes to banks, bigger is not always better

The global trend is for larger and fewer banks. But as they get bigger, so does their chance of failure in the era of negative interest rates

13th October, 2019
The HSBC building in Hong Kong: the bank is highly profitable, but is also preparing to cut 10,000 jobs, mostly at its European operationsGetty

Any company that spends years dithering over where its global headquarters should be located may have lost sight of what really matters. The bank that used to be called Hong Kong and Shanghai Bank has an acute case of this affliction. HSBC, one of the top ten banks in the world measured by assets, is run from London, has a big presence in the US, and makes most of its money in Asia.

Yet the...

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