HSBC’s name and brand may cease to exist in the British High Street and instead it will go back to its phased out name Midland Bank for its branches as the plans to separate the local operations from the global operations. However, Stuart Gulliver, chief executive of the bank, said it has not decided on a name and that it would consult with staff and customers. The name change proposal is the result of new rules in the country that force banks like HSBC and others to spin off their customer-facing operations in the country. Midland Bank, which dates back to the 19th century, was bought by HSBC in 1992.
