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Daily Dispatches: HSBC chairman to step down

HSBC chairman Stephen Green will step down later this year. (Daily Telegraph)

HSBC has gained regulatory approval to open two rural banks in China. The lender will open one bank in Rongchang County, Chongqing, and another in Tianmen, Hubei Province, during the second half of this year. (Shanghai Daily)

Private bankers lose sight of the relationship they should be building with clients when they become sales people pushing products, says Indian entrepreneur and billionaire Bhupendra Kumar Modi, chairman of the Spice Global group. (Asia One)

ANZ Bank is entering a critical phase of its super-regional strategy, saying it could spend more than A$5bn on strategic stakes in both the Asian lenders it is examining. (The Australian)

Standard Chartered, the UK bank that specialises in emerging markets, plans to raise as much as US$588m through its first share listing in India, at the low end of initial forecasts amid jittery global markets. (Financial Times)

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