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HSBC to stop wealth management services in Lebanon, Jordan, Bahrain

HSBC Holdings has announced its wealth management products will no longer be available in Bahrain, Jordan and Lebanon, as the British lender continues to exit small or insufficiently profitable operations globally as part of a strategic review, Reuters has reported. "After a detailed review of our Mena business, we will discontinue sales of any new wealth investment or wealth insurance products in Lebanon, Jordan and Bahrain from October 7, 2013," the bank said. Existing customers will continue to receive basic services and their wealth management-related investments will be maintained until maturity, the lender said, adding the decision has not prompted job losses.