(Sept 8): HSBC Holdings Plc is planning to increase its wealth-management staff in Asia as Chief Executive Officer John Flint bets on growth in the region.

The bank plans to add more than 1,300 positions, split roughly between retail and private banking, by 2022, according to the heads of the two divisions, which between them currently employ just over 32,000 people in the region. The bulk of the hires, some of which could be internal, will be in Hong Kong and Singapore.

The wealth strategy is part of Flint’s plan to grow HSBC by expanding in Asian markets including Greater China and Southeast Asia. The CEO, promoted in February, said in June that HSBC will pour as much as US$17 billion ($23.3 billion) by 2020 into expanding the region’s business and improving technology. The bank aims to grow revenue from Asia by at least US$1 billion during the same period.

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