Sale of UK Probate Services Business

RNS Number : 3162M

HSBC Holdings PLC

06 May 2015

 



SALE OF UK PROBATE SERVICES BUSINESS

HSBC Trust Company (UK) Limited ('HTCU'), a wholly-owned subsidiary of HSBC Bank plc, has agreed to sell its UK probate services business to Simplify Channel Ltd ('Simplify').

As part of the sale, up to 73 employees will transfer from HSBC to Simplify together with the relevant business information. There are no other assets being transferred as part of this transaction. In addition to the sale, HTCU has also entered into a referral agreement with Simplify for UK customers requiring probate support.

The transaction is expected to complete in the fourth quarter of 2015.

Media enquiries to:
Sorrel Beynon	[phone]	[e-mail]
Investor enquiries to:
UK	Hong Kong	USA
[phone]	[phone]	[phone]

Notes to editors:

1. HSBC Bank plc

HSBC serves 16.1 million customers in the UK and employs approximately 48,000 people.  In the UK, HSBC offers a complete range of personal, premier and private banking services including bank accounts and mortgages. It also provides commercial banking for small to medium businesses and corporate and institutional banking services. HSBC Bank plc is a wholly owned subsidiary of HSBC Holdings plc.

2. HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from over 6,100 offices in 73 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,670bn at 31 March 2015, HSBC is one of the world's largest banking and financial services organisations.

ends/all

 

END

 

 

MSCSSWSWMFISEDI