LONDON, June 9 (Reuters) - HSBC is on the verge ofa prolonged period of dividend growth, its chief executive saidon Tuesday.
"The dividend grew for 17 years from 1991 to 2008 and Ibelieve that we are in the foothills of another prolonged periodof dividend growth for the firm," CEO Stuart Gulliver toldanalysts and investors at the start of a strategy update.
HSBC on Tuesday outlined plans to shed almost 50,000 jobsand take an axe to its investment bank to cut assets by aquarter in an effort to simplify and improve its sluggishperformance. (Reporting by Steve Slater; Editing by Matt Scuffham)