In a welcome move for Guernsey, HSBC has announced that it is
moving part of its Jersey-based business to the sister Island.
The bank confirmed
that its private banking arm – which provides banking services to high net
worth clients – will be relocating next year and will relinquish its HSBC
Private Bank (CI) Ltd licence in Jersey.
The move is all part of a rationalisation for the bank,
which announced two weeks ago that it would be shedding 90 Jersey jobs as part
of a national restructuring programme.
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