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HSBC Move Trust Business to Bermuda
HSBC has transferred it international trustee company to Bermuda with the acquisition by Bank of Bermuda of HSBC International Trustee from ...
HSBC has transferred it international trustee company to Bermuda with the acquisition by Bank of Bermuda of HSBC International Trustee from HSBC Private Banking Holdings (Suisse).
The company had assets under administration of $22 billion at September 30, 2005.
HSBC bought the Bank of Bermuda in 2004 and had previously stated that it planned to expand its trust business in Bermuda.
Separately, HSBC has recently moved its captive insurance business unit to Bermuda from Guernsey.
