HSBC Sells Part of Retail Banking Unit

LONDON — HSBC Holdings, Europe’s biggest bank, is to sell part of its Russian consumer banking business to Citigroup. The sale of the business, whose assets are valued at about $10.7 million, will be closed in the third quarter of the year, the London-based bank said in a statement Tuesday. HSBC in April said it would close its retail and private-banking units in Russia to focus on corporate clients […]