HSBC to Integrate Investment Banking
Byline: Nick Gilbert
HSBC is set to abandon the separate banking licence held by its investment bank and integrate all its City of London operations into its main commercial banking business.
The investment bank, which incorporates securities trading and research, corporate finance and M&A, will become a division of the main bank working alongside corporate and institutional banking. The investment bank and markets division has 17,000 staff worldwide, about 4,600 of whom are based in the UK.
HSBC chairman Sir John Bond's reorganisation, which will take effect this summer, will need parliamentary approval to sanction the surrender of the separately …
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Publication information: Article title: HSBC to Integrate Investment Banking. Contributors: Not available. Newspaper title: Financial News. Publication date: February 18, 2002. Page number: Not available. © Not available. COPYRIGHT 2002 Gale Group.
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