HSBC has rolled a plan to save $2.5-3.5 billion over the next three years, Financial Times reports. The lender will scale back operations in both retail banking and wealth management, said its CEO, Stuart Gulliver.

HSBC had recognized only 22 high street operations and a core of 18 wealth businesses generating sufficient returns out of the 87 active markets. The bank is also conducting a strategic review of its U.S. credit-card business and branch network.

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