HSBC, a banking and financial services organization that offers a comprehensive range of services, agreed to acquire onshore consumer wealth portfolio in China from Citigroup, an American multinational investment bank and financial services corporation headquartered in New York City. Financial terms were not disclosed. “This transaction serves the interest of our clients, colleagues and all parties involved. Citi is proud to have a long history in China. We are deeply rooted in this market. We look forward to continuing to support our institutional clients in China as their preeminent banking partner for cross-border needs,” Christine Lam, Citigroup China Country Officer and President.