Finance
HSBC Signals Maltese Exit Days After New CEO Takes Charge
- Looking at options for its 70% stake in local operations
- Georges Elhedery took charge of HSBC earlier this month
This article is for subscribers only.
HSBC Holdings Plc has started a strategic review of its Maltese arm, marking the latest move by Europe’s largest bank since the appointment earlier this month of its new Chief Executive Officer Georges Elhedery.
In a statement to the Maltese stock exchange, HSBC said it had informed the directors of its business in the country that it was looking at options for the lender’s 70% stake in the operation. It added that it would provide further updates in due course.