- HSBC Private Bank (Suisse) S.A., an indirect wholly-owned subsidiary of HSBC Holdings plc provides private banking services to a Swiss and international clientele. HSBC’s private bank has around 1’350 employees in Switzerland, where it managed around CFH 70 billion of client assets at the end of 2014. HSBC Private Bank (Suisse) decided, in line with its group strategy, to focus its business on selected core markets and regions. While HSBC remains fully committed to Switzerland as a key international centre for its Global Private Banking Business, HSBC decided to divest those clients, which do not fall within their defined priority markets.
- In June 2014, HSBC announced the sale of its non-strategic private banking portfolio in the form of an asset deal with universal succession. The portfolio of roughly USD 7 billion was bought by LGT Bank (Switzerland) Ltd, a wholly-owned subsidiary of the LGT Group Foundation.
- CFM was mandated by HSBC Private Bank (Suisse) SA together with Rothschild & Sons Ltd as advisor to provide the whole range of M&A services.