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Chance to tell a giant to cut the crap
HSBC is advising Rosbank on its retail strategy and AT Kearney, which seems an unlikely choice, is advising HSBC on its investment banking model. The project reports to Mark Ramsey, acting head of global equities. Like every bank, HSBC has to figure out how to cover the high costs of research by means of paltry broking commissions, especially since research working with corporate finance is now a no-no. The answer is simply to cut the crap.
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