The chief executive for London-based bank HSBC said the concernplans to build its insurance business significantly in the futureas it continues to search for new growth opportunities.

Michael Geoghegan, group chief executive of HSBC, made hiscomments during the Morgan Stanley European Banks and FinancialsConference in London yesterday.

Mr. Geoghegan said that while the bank has “a very low footprintin insurance,” the bank's chief executive of insurance, CliveBannister, is “taking up the challenge” to build a “significantinsurance and wealth management business” across the bank'sfinancing in commercial and personal banking.

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