HSBC Holdings has laid off about 100 employees from its private-banking division in Hong Kong, sparking fears of a new wave of job cuts in the city's financial sector, according to local media reports Wednesday.

The job cuts by HSBC constitute about 8% of its 1,200 staff at the unit, according to the reports.

HSBC layoffs trigger job-loss fears in Hong Kong

HSBC reportedly lays off about 100 employees from its private-banking division in Hong Kong, sparking fears of a new wave of job cuts in the city’s financial sector.

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Pimco’s European business suffers almost 40% profit drop as performance fees slump

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Milbank hires private equity M&A rising star in Germany

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

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