Household HSBC Watch

HSBC is looking to increase its presence in Russia by pumping $200 million into its operation in the country and appointing a new Russia CEO, the bank announced Wednesday. The plans at HSBC, which calls itself “the world’s local bank,” will see the global brand plunge into retail banking and open up branches in Russia as early as this year. “We plan to become a very visible brand on the Russian market in the near future,” said Stuart Lawson, who has been appointed CEO of the Russian subsidiary, HSBC Bank (RR), pending Central Bank approval.