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HSBC Holdings plc To Sell Private Banking Business In Japan To Credit Suisse AG And Credit Suisse Securities (Japan) Limited
HSBC Holdings plc and HSBC Securities (Japan) Limited, wholly owned subsidiaries of HSBC Holdings plc, have entered into an agreement to sell HSBC's private banking business in Japan to Credit Suisse AG and Credit Suisse Securities (Japan) Limited. The value of the gross assets included in the sale was approximately USD2.7 billion at October 31, 2011. The transaction, which is subject to regulatory approvals, is expected to complete during the second quarter of 2012. Terms of the transaction were not disclosed.
Latest Developments for Credit Suisse Group AG
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