HSBC Completes Strategic Review of HSBC Private Bank (Monaco)

On 14 May 2013 HSBC

Private Banking Holdings (Suisse) SA, a wholly owned subsidiary of HSBC Holdings plc, announced it was conducting a strategic review of its private banking operations in Monaco following receipt of unsolicited expressions of interest in acquiring that business. Following completion of this review and consideration of expressions of interest the decision has been made to retain the business. HSBC is a leading international player in wealth management and is committed to Global Private Banking as one of its four Global Businesses. HSBC will continue to invest in the growth of the business in line with its commitment to priority markets and the adoption of Global Standards.