HSBC Asset Management merger deal called off

Framlington has been given assurances that it will retain total independence even though its parent company is being bought by HSBC. Last weekend French bank CCF, which owns 51% of Framlington, accepted a E11.3bn deal from HSBC Holdings. US mutual funds group Munder has a 49% stake in Framlington. Craig Walton, group marketing director at Framlington, said that the independence it operated under would not be altered. He added: "All the parties, HSBC, CCF, Framlington and Munder Capital Management have agreed that Framlington will remain totally independent. We are specialist growth mana...