Venerable HSBC Loses its Way

‘Strategic refreshment in the cards, whatever that means

HSBC, aka the Hong Kong & Shanghai Banking Corporation, is due to announce a “strategic refreshment” next month, according to Bloomberg.

“Not again,” critics might mutter as the London-based bank whose major profits center is Hong Kong, struggles to define itself. Once the very model of a conservative bank run more to oil the wheels of commerce and sust…