HSBC exits Wells Fargo HSBC Trade Bank

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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

This article, HSBC exits Wells Fargo HSBC Trade Bank, is just one of our articles from The HSBC Monitor, Part 2 – News and Complaints Behind the Scenes

The HSBC Monitor monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.

We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.

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