Citigroup to sell China onshore consumer wealth unit to HSBC

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Citigroup Inc said on Monday it has agreed to sell its onshore consumer wealth portfolio in China, including clients, assets under management (AUM) and deposits to HSBC Bank China.The deal covers total deposits and investment AUMs of about $3.6 billion.

FILE PHOTO: The logo for Citibank is seen on the trading floor at the New York Stock Exchange in Manhattan, New York City, U.S., August 3, 2021. REUTERS/Andrew Kelly/File PhotoCitigroup Inc said on Monday it has agreed to sell its onshore consumer wealth portfolio in China, including clients, assets under management and deposits to HSBC Bank China.

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