HSBC hopes to unload as much as €2 billion in private-equity investments as it moves to comply with new U.S. and European banking rules.
The bank has hired Campbell Lutyens to sell the p.e. holdings on the secondary market, Financial News reports. The stakes for sale account for all of HSBC's remaining private-equity investments.
HSBC is among the last major European banks to divest itself of its p.e. investments, a step required both by the U.S. Volcker rule and the new Basel III regulations in the European Union. The bank has until July of next year to come into compliance with the former.