HSBC to spin-off private equity businesses

The move to offload its five private equity businesses comes in the face of regulatory changes which could make such businesses less attractive for banks. No financial details were disclosed and the company said talks are ongoing. The sell-off of comes as new capital requirements threaten to limit ownership of hedge funds and private equity groups, which could see banks concentrate on their core activities. HSBC's exit from the private equity arena follows spin-offs from other banks, including Toronto-Dominion Bank. Barclays is also in talks to spin-off Barclays Private Equity. ...