HSBC announces today that the name of its UK ring-fenced bank will be HSBC UK.
Following a consultation process with retail, private and commercial banking customers, as well as customer-facing staff, a decision has been made to keep the HSBC brand, adding ‘UK’ to distinguish the ring-fenced bank from the non-ring-fenced bank. Feedback indicated that the HSBC brand represents strength and connectivity, supporting the domestic and international ambitions of our customers.
The new brand will be rolled out across the UK from 1 January 2018, one year before ring-fencing legislation comes into effect.
Stuart Gulliver, Group CEO, said “As outlined at our Investor Update in June, setting up the UK ring-fenced bank in Birmingham is a key strategic action for the Group. Our ambition is to be the bank of choice in the UK and as a name, HSBC UK will build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market. ”