Clients pull $4bn from HSBC arm

[Frank]

HSBC’s Geneva-based private bank saw clients withdraw more than $4bn from its hedge fund portfolios in the first half of the year, underlining the acute pressures facing the industry.

The bank, which caters primarily to high net-worth individuals, said in a statement it had seen investors pull about SFr4.2bn ($3.9bn) from hedge funds in net terms between January and the end of June.

   

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[Singapore]

They are not alone!!!

Many more people are pulling out of HSBC whose reputation is failing every day the company is alive, the bigger they are the harder they fall.