Cowper-Coles will leave the UK lender next month, the report said, citing people familiar with the matter. The former diplomat apologized last month for reportedly calling Britain "weak" for going along with U.S. demands to curtail business dealings with China. HSBC declined to comment on the Bloomberg report.
Citigroup (C) is in talks to sell its China retail wealth management business to HSBC Holdings as part of its plan to exit from consumer banking outside of the United States.
HONG KONG (Reuters) -HSBC is set to acquire Citigroup's China consumer wealth management business, which manages more than $3 billion in assets, two sources with knowledge of the matter said, in a major boost to the London-based bank's business in that country. The transaction, the financial details of which were not immediately known, will also see Asia-focussed HSBC taking over "a few hundreds" of Citi's China-based staff, said one of the sources. HSBC and Citi declined to comment.