HSBC France has vowed to improve the investment and advisory offerings in its wealth management and retail banking arms, as part of a strategic plan that it hopes will improve its cost-efficiency ratio to around 62 to 64 per cent.

Within the private bank, HSBC France said it intends to “accelerate growth in France through the opening of three new regional offices (bringing the network to six private banking regional offices), strengthening sales teams and increasing the synergies between the different customer groups, in particular commercial banking”.

In a statement issued on its website, HSBC France added that it will “accelerate” its growth while improving efficiency by focusing on wealth management for personal customers; bolstering international connectivity for business customers; developing the global banking and markets platform in Paris as a strategic hub for the HSBC Group; and strengthening synergies between customer groups.

The plan is also aimed at achieving a return on equity in line with the HSBC Group's target of 12-15 per cent.

Within wealth management, HSBC France says it will improve its investment and advice offering in multi-management, discretionary management, advisory management, annuities solutions and its brokerage platform.