11 July 2013
HSBC COMPLETES STRATEGIC REVIEW OF
HSBC PRIVATE BANK (MONACO) SA
On 14 May 2013 HSBC Private Banking Holdings (Suisse) SA, a wholly owned subsidiary of HSBC Holdings plc, announced it was conducting a strategic review of its private banking operations in Monaco following receipt of unsolicited expressions of interest in acquiring that business.
Following completion of this review and consideration of expressions of interest the decision has been made to retain the business.
HSBC is a leading international player in wealth management and is committed to Global Private Banking as one of its four Global Businesses. HSBC will continue to invest in the growth of the business in line with its commitment to priority markets and the adoption of Global Standards.
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HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,600 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$2,681bn at 31 March 2013, the HSBC Group is one of the world's largest banking and financial services organisations.
