HSBC gains big from Investsmart's retail brokerage biz
Retail rules even in the stock markets no matter how volatile the situation currently is. HSBC's acquisition of Infrastructure Leasing and Financial Services Ltd (IL&FS), a dominated retail brokerage of India, is a clear indication that top foreign brokerages who till now were gunning for the institutional business from the smart and savvy fund managers, now wants to target the Indian retail investors.
