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By Sherry Qin
Citigroup agreed to sell its onshore consumer wealth portfolio in China to HSBC Holdings, progressing the wind-down of the U.S. bank’s consumer business in the country.
Citi will sell its China consumer wealth portfolio, including clients, assets under management and deposits, worth approximately US$3.6 billion, to HSBC Bank China, Citi said in a statement Monday.
Write to Sherry Qin at [email protected]
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