![]() Last year, Citigroup announced its exit from 13 markets across Asia, Europe and the Middle East and is trying to sell its Mexican business, Banamex. Its largest shareholder, China’s Ping An Insurance Group, has been agitating for a spin-off of its Asia operations. HSBC has reduced the number of countries and territories in which it operates to 64 from 88. The global ambitions of both HSBC and Citigroup have been pared back, replaced by a narrower focus on core markets. Two decades later, the buildings now stand as monuments to a bygone age. HSBC building at the Canary Wharf in London. ![]() They reflected the confidence of their occupants: each vying to be the biggest, most imposing bank in the world. At the time, these were jointly the second-tallest buildings in Britain. The other was home to Citigroup, whose employees had moved in a few months earlier. Designed by Norman Foster, the building was one of two new towers to spring up on the skyline east of the city. Twenty years ago, as they returned from summer vacations, staff at HSBC Holdings began moving into their gleaming new global headquarters in London’s Canary Wharf.
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