L&T Finance completes sale of MF business to HSBC for ₹3,484 crore

Saturday, 26 November 2022, 05:45:58
L&T Investment Management Limited, the asset manager to L&T Mutual Fund, had announced the sale in December 2021
— The Hindu BusinessLine

HSBC froze accounts linked to Tory peer Michelle Mone during corruption probe

Friday, 25 November 2022, 23:50:02
HSBC froze bank accounts linked to Tory peer Baroness Michelle Mone and her husband Douglas Barrowman during an investigation that examined possible corruption in securing government contracts. An internal HSBC report, seen by the Financial Times, traces money transferred by PPE Medpro, which received £202mn of government orders for personal protective equipment in the pandemic, […] HSBC froze accounts linked to Tory peer Michelle Mone during corruption probe
— Newslanes

L&T Finance Holdings completes sale of L&T AMC for Rs 3,484 crore

Friday, 25 November 2022, 17:07:00
L&T Finance Holdings on Friday completed the sale of L&T AMC to HSBC Asset Management, according to a regulatory filing. “…With respect to the proposed sale of 100 per cent of the paid-up share capital of L&T Investment Management Ltd, asset manager of L&T Mutual Fund, to HSBC Asset Management (India) Pvt Ltd, asset manager of HSBC Mutual Fund, …the said sale transaction has been completed on November 25, 2022,” the company said. L&T Investment Management Ltd (LTIML) is a wholly-owned subsidiary of L&T Finance Holdings. L&T Investment Management Ltd will receive an aggregate purchase consideration of INR (Indian currency) equivalent of USD 425 million, subject to adjustments as set out in the definitive documents as consideration for the transaction. The company has received Rs 3,484 crore (equivalent of USD 425 million) as consideration for the sale of LTIML from the purchaser; and also realised surplus cash balance of Rs 764 crore in LTIML, it said.
— Business Standard

HSBC poaches ex-FCA comms boss Tom Willetts for private banking role

Friday, 25 November 2022, 09:54:00
Bank scores former senior regulator Willetts to bolster communications team
— Financial News

HSBC launches discretionary digital platform

Friday, 25 November 2022, 04:07:35
HSBC is the first bank in the region to offer discretionary portfolio management on a mobile app. The post HSBC launches discretionary digital platform appeared first on Fund Selector Asia .
— Fund Selector Asia