LONDON/SINGAPORE: HSBC said Hong Kong's strict curbs on travel and social interaction are hurting the economy and may impact the ability to hire and keep staff in the Asian financial hub, in one of the strongest comments yet by a global lender on the city's tough measures to combat the COVID-19 pandemic.
The comments came as the Asia-focused lender reported its annual profit more than doubled. It said, however, it expects a weaker performance in its wealth management business in Asia in the first quarter of this year.on Monday, overwhelming the government's testing, hospital and quarantine capacities.
As a result of that policy, more expats are thinking of leaving, and global banks, asset managers and corporate law firms are facing up to many of their staff exiting after annual bonuses are paid out in the first three months of the year.
Source: Financial Digest (financialdigest.net)
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