Meanwhile,
Hsbc switzerland rules out more:
The Swiss private bank of HSBC has started a large withdrawal operation. Nevertheless, aimed at more than 1,000 wealthy customers from the Middle East, while it is the subject of an increased examination of regulatory authorities concerning high-risk customers, reports the Financial Times Sunday.
According to the British daily. Similarly, the bank will end its relations with several customers from countries such as Saudi Arabia, Qatar, Lebanon and Egypt, many of which hold assets greater than $ 100 million, citing sources close to the file.
In a statement sent to Reuters. However, HSBC recalled the plans announced last October aimed at reorganizing the group, adding: “In this context, we evolve the strategic orientation of our Swiss private banking. The bank has not given more details concerning the possible closure of certain customer accounts.
In another statement sent by email to Reuters. Barry hsbc switzerland rules out more O’Byrne, director general of the International Wealth and First Banking Division at HSBC, assured that the bank maintained an “absolute commitment” towards its wealth management activities in the Middle East and Switzerland.
He highlighted the key role of Switzerland in the support given to global customers: “This is one of our. main poles of wealth management. »»
The Financial Times Specifies that the Swiss private banking of HSBC has informed the customers concerned that they will no longer be able to use its services. and that it will soon send them letters inviting them to transfer their accounts to other establishments in the coming months.
SATURDAY. Bloomberg News had already reported that the Swiss private banking of HSBC was preparing to separate 1,000 customers from the Middle East.
The Swiss Financial Market Supervisory Authority. the Finma, said in 2024 that the Swiss subsidiary of HSBC had failed in its obligations hsbc switzerland rules out more in the prevention of money laundering, in connection with two politically exposed people.
The regulator noted that suspicious transactions. involving personalities in sight, had been carried out between 2002 and 2015, for a total amount of $ 300 million.
Last month. HSBC said that the judicial authorities in Switzerland and France were in the early stages of an investigation concerning its subsidiary Private Bank (Switzerland) SA, in connection with suspicions of money laundering relating to two historic banking relations.
(Report by Gursimran Kaur and Dave Graham; edition by Jan Harvey and David Holmes)
Hsbc switzerland rules out more
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