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HSBC may spin off British retail bank unit

HSBC is said to be considering plans to spin off its British retail bank in a 20 billion-pound deal. According to news reports, directors at the bank are considering the future of the bank’s retail operations in the UK. However, the bank refused to comment on these reports. The bank has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London’s reputation as a global hub for finance and investment. A UK law forcing banks to separate their domestic retail operations by 2019 is likely to be a key factor in any decision. If the bank does move, it could choose to spin off its UK arm, investors have said.

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