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HSBC's Swiss private bank ends ties with over 1,000 wealthy Middle Eastern clients to reduce risk.
HSBC's Swiss private bank is ending relationships with over 1,000 wealthy Middle Eastern clients, including many with assets over $100 million, to reduce high-risk exposure.
This move follows scrutiny from Swiss regulators who found the bank failed to properly vet high-risk accounts.
The exits, expected to be completed in six months, affect clients from Saudi Arabia, Lebanon, Qatar, and Egypt.
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El banco privado suizo de HSBC termina sus vínculos con más de 1.000 clientes adinerados de Oriente Medio para reducir el riesgo.