HSBC is rebuilding its Indian equities platform to re-enter the domestic broking business after an 11-year absence. The bank has commenced hiring for senior roles to support the expansion.
This move aims to capitalize on India's booming IPO market and increasing demand for equity products from wealthy clients. The strategy aligns with the bank's pivot toward Asia and wealth management as primary growth drivers.
The decision reverses HSBC's 2013 exit from the Indian retail brokerage and depository business. Separately, the bank granted nearly 7.9 million share options to employees under its savings-related share option plan.