HSBC Private Bank inks deal with Indosuez in Monaco exit

Added 19th October 2016

HSBC Private Bank is to wind down its Monaco business and has signed an agreement to refer its clients to CFM Indosuez Wealth Management.

HSBC Private Bank inks deal with Indosuez in Monaco exit

The bank advised that it intends to wind down the remainder of HSBC’s Monaco business after alternative arrangements are made for any clients who do not transfer under the agreement.

The move is a further step in HSBC’s goal to optimise its global network and reduce complexity, and represents further simplification of the Global Private Banking business.

“It draws to a close the restructuring of our European private banking operations, with the future focus being on growing our business with strategic clients of the group,” HSBC Private Bank said.

The referral process will begin immediately.

Indosuez Wealth Management said that the agreement is in line with the group’s strategy to strengthen its positions with ultra-high net worth clients in its key markets.

“It also reinforces CFM Indosuez Wealth Management’s leadership as the largest bank in the Principality of Monaco,” the firm added. 

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Kirsten Hastings

Senior Reporter

Kirsten is a senior reporter for International Adviser, covering global news stories about the financial services industry. She joined Last Word Media in October 2015 after two years working as a reporter covering the staffing and recruitment industry. Kirsten has a Masters in Financial Journalism from the University of Stirling. 


The turning tide of global equities

The turning tide of global equities

Despite a gloomy beginning to the year, global equities have started to outshine the backdrop of economic malaise that threatened their upward trajectory, with the index delivering 19.2%


Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...



Offshore Bond Workshop Glasgow 2016
Offshore Bond Workshop Glasgow 2016

22nd November 2016
The Grand Central Hotel, Glasgow

Future Advisory Forum Dubai 2016
Future Advisory Forum Dubai 2016

23rd November 2016
Shangri-La Hotel, Dubai 

Sponsored Content

Investment Strategy