[ by Melanie Gretchen ] HSBC will sell its Japanese private banking unit to Credit Suisse and layoff 30,000 by 2013.  As part of its shifting focus from investment banking operations to its wealth management unit, the sale is part of a strategy by CEO Stuart Gulliver to cut annual costs by $3.5 billion and sharpen the bank's focus on Asia by quitting countries or businesses where it lacks scale. Although the bank has not released the price of the transaction, set to close by the second quarter of 2012, it said the division had gross assets of approximately $2.7 billion at the end of October. The layoffs, which would represent about 10% of HSBC’s work force follow recent sales by the bank, including the American credit card and retail services division to Capital One Financial for $2.6 billion in August, in addition to the current process of selling a majority of its United States retail branches to the First Niagara Financial Group. Credit Suisse said in a filing the purchase of the Japanese private banking business will stengthen its presence in the Asia-Pacific region.  It, too, has announced plans for 3,500 layoffs looks to reduce annual costs by $2.1 billion by 2013. [Reuters, 12/21/11]