HSBC Holdings Plc. (HSBA.L, HSBC) reportedly plans to add 4,000 positions in China’s Pearl River Delta region in the coming three to four years, even as the Asia-focused lender cuts jobs elsewhere.
In June, the company had announced certain restructuring actions, which were reportedly expected to eliminate 25,000 jobs globally.
The planned appointments in China are to support the company’s retail banking and wealth management business.
The company currently has 13,000 employees in the Pearl River Delta, and the decision will result in a 30 percent increase.
HSBC plans to increase its pretax profit in the Pearl River Delta to $1 billion in five years from last year’s $100 million.