HSBC New CEO Flint's $17 Billion Plan Falls Flat on Investors

HSBC Holdings Plc Chief Executive Officer John Flint’s plan to pour as much as $17 billion into expanding its key Asian markets and improving technology failed to inspire investors. In his first wide-ranging plan since taking the helm four months ago, Flint said the bank would invest roughly two thirds of that amount by 2020 to build its presence in Hong Kong, China’s Pearl River Delta region, and wealth management in Asia. The rest will be spent on technology upgrades while HSBC will just maintain dividends, a letdown for some.