HSBC Divests Canadian Unit
HSBC Holdings Plc(NYSE:HBC) has finally announced the sale of its Canadian retail brokerage business to National Bank Financial, a unit of National Bank of Canada (NA) for C$206 million ($208 million). As per the terms of the deal, HSBC would refer clients with non-discretionary full service investment advisory needs to National Bank and both the [...]
HSBC Holdings Plc(NYSE:HBC) has finally announced the sale of its Canadian retail brokerage business to National Bank Financial, a unit of National Bank of Canada (NA) for C$206 million ($208 million).
As per the terms of the deal, HSBC would refer clients with non-discretionary full service investment advisory needs to National Bank and both the banks will work together in offering services to mutual fund clients. Further, HSBC will have access to National Bank’s retail brokerage network for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards