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HSBC exits Wells Fargo HSBC Trade Bank

Written by Timothy Blake on February 20, 2010 under General News
Tags: banking services, HSBC

HSBC U.S Inc., has sold its interest in Wells Fargo HSBC Trade Bank, N.A., consisting of 20% of the Trade Bank’s common stock and 100% of its non-voting preferred stock, to Wells Fargo Holdings Corporation for $171 million in cash.

Following this sale, HSBC intends to expand further its full suite of commercial banking services, including Trade and Supply Chain services

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HSBC exits Wells Fargo HSBC Trade Bank

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