HSBC 'weighs plans' for high street bank sale

clock

HSBC could spin off its £20bn British retail banking operation, a move which could speed up its potential exit from the UK, the Sunday Times reports.

On Friday the bank announced it was examining whether to move its headquarters out of the UK, citing risks posed by the potential post-general election EU referendum. Senior sources told the Sunday Times the country's second largest retail banking outfit also weighing up whether to sell-off its UK retail operation.  Sources said the bank's "hand had been forced" by the ring-fencing scheme brought in after the financial crisis.  The schemes means lenders wil have to put their retail operations into separate companies, with different boards.  "If you can't control the retail arm, ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More than half of IFAs feel negative about a potential Labour govt

More than half of IFAs feel negative about a potential Labour govt

Advisers favour Conservatives when it comes to their clients and business

Isabel Baxter
clock 09 May 2024 • 2 min read
Elections and advice: Planning in political and legislative uncertainty

Elections and advice: Planning in political and legislative uncertainty

‘It should not be based on speculation, always plan on current legislation’

Isabel Baxter
clock 08 May 2024 • 3 min read
'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read