Prudential has entered into discussions with HSBC about a marketing agreement that would see the lif...
Prudential has entered into discussions with HSBC about a marketing agreement that would see the life assurer's range of products being sold through the bank's high street network.
The discussions, which are still at an early stage, would mirror the existing arrangement between Barclays Bank and Legal & General, Investment Week understands.
This arrangement allows Barclays customers to access L&G's full range of products covering pensions, protection and investments, in addition to the existing range of Barclays products.
In the case of HSBC, it would see the full range of the Prudential's products, including investment funds from M&G, become available through the bank.
Although HSBC has its own range of funds, the more comprehensive range of products managed by M&G would offer greater choice to the bank's customers.
Equally, the relationship would allow HSBC's customers access to the Prudence Bond through the bank, plus Prudential's pensions range.
Discussions between Prudential and HSBC are at an early stage, with one source, with knowledge of the talks, describing the relationship as at the 'cuddling up' phase.
It is unlikely any formal announcement or agreement will be in place before September.
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