- HSBC’s largest acquisition since 2012
- Europe’s largest bank hopes to grow income in low-rate world
- AXA trying to withdraw from areas where it lacks scale
SINGAPORE/HONG KONG, Aug 16 (Reuters) – HSBC Holdings (HSBA.L) has agreed to acquire French insurer Axa’s (AXAF.PA) Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia to boost fee income.
HSBC said in a statement that the combined unit comprising HSBC Life Singapore and Axa