HSBC has announced plans to add more than 1,000 jobs by the end of this year at its technology centers in China, as part of the global lender's strategy of growing its presence in Asia, where the group already makes most of its profits.
The UK-headquartered international bank - Europe's largest - is re-focusing on its Asian roots as it seeks to claim greater market share in the world's second largest economy.
The raft of new jobs will be in addition to the 7,000 employees already working in HSBC's fintech centres in Shanghai, Xian and Guangzhou. According to Reuters, the bank spent $3bn last year on its group technology operations which alone employ 40,000 people globally.
The bank has said it will invest $15-$17bn in the next three years in areas with a particular emphasis on tecnology and China, where HSBC posted a loss of $200m last year.
Darryl West, HSBC's chief information officer, told Reuters: "There is a lot more we can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets."
"We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here," West added.
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