LONDON, May 23 (Reuters) - HSBC's Chief ExecutiveStuart Gulliver told shareholders at the bank's annual meetingthat it had no plans to follow rivals by significantlyre-shaping its investment banking business.
"There's no real need to change ours. I don't see any needto exit large chunks of the business. We will continue to investin the organic growth of GBM (investment bank arm Global Bankingand Markets)," he said.
Gulliver was referring to recent plans announced by Barclays to shrink its investment bank and by Deutsche Bank to raise billions of euros and grow its investmentbank in the United States. (Reporting by Steve Slater and Matt Scuffham; Editing by ChrisVellacott)