New Chief, New Deals at HSBC

The transcript discusses the appointment of John Flint as the new CEO of HSBC and his immediate focus on the asset management unit, which has been struggling. The conversation highlights the challenges faced by asset management, particularly due to the shift towards passive investing, which is shrinking margins. Various strategic options for the asset management unit are considered, including selling, spinning off, or building it up through acquisitions. The importance of asset management as a lucrative part of banking is emphasized.

What does the speaker imply about the future of asset management in relation to competition?

Why is it important for banks to consider their asset management units?