HSBC Holdings PLC (HSBA) - Internal Group Ownership Transfer
RNS Number : 3342R
HSBC Holdings PLC
16 November 2012
HSBC HOLDINGS PLC
INTERNAL GROUP OWNERSHIP TRANSFER
In line with HSBC's strategy, which includes simplifying the management of the
Group, the legal ownership of HSBC Private Banking Holdings (Suisse) S.A., the
principal holding company for the Group's Global Private Banking entities, has
been transferred from HSBCBankplc to HSBC Holdings plc. The ownership of
HSBC Private Bank (UK) Limited, the Group's UK-based private banking
subsidiary, remains with HSBCBankplc.
The legal transfer, which completes today, will move a global operation from a
European holding company to HSBC Holdings plc, the Group holding company,
thereby simplifying governance requirements and administrative processes.
The transfer is further evidence of execution of the Group's strategy to
simplify, restructure and grow its businesses. It will facilitate the ongoing
implementation of a global operating model for Global Private Banking with
better integration and coordination within the Group.
There will be no impact from the transfer on customers or employees.
Media enquiries to:
Patrick Humphris +44 (0)20 7992 1631 firstname.lastname@example.org
Médard Schoenmaeckers +41 58 705 33 55 email@example.com
Investor Relations enquiries to:
Guy Lewis +44 (0)20 7992 1938 firstname.lastname@example.org
Robert Quinlan +44 (0)20 7991 3643 email@example.com
Hugh Pye +852 2822 4908 firstname.lastname@example.org
Notes to editors:
1. HSBC Private Bank
HSBC Private Bank is the marketing name for the private banking business
conducted by the principal private banking subsidiaries of the HSBC Group
worldwide. At 30 June 2012 total client assets were US$497bn. HSBC Private
Bank provides services to high net worth individuals and their families
throughout Europe, the Americas, the Asia-Pacific region, the Middle East and
Africa. Private Banking and Wealth Management Services in and from the United
States are offered through HSBC Private Bank Americas, a division of HSBC Bank
USA, N.A., and HSBC Private Bank International in Miami.
2. The HSBC Group
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in
London. The Group serves customers worldwide from around 6,900 offices in over
80 countries and territories in Europe, the Asia-Pacific region, North and
Latin America, and the Middle East and North Africa. With assets of US$2,721bn
at 30 September 2012, the HSBC Group is one of the world's largest banking and
financial services organisations.
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBFBTTMBBBBMT -0- Nov/16/2012 13:00 GMT
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