London-based HSBC Holdings, announced on Monday that it plans to sell 195 branches in Connecticut and upstate New York to First Niagara Financial Group for $1 billion in cash.
HSBC is paring down its U.S. assets as part of a larger cost-cutting initiative, Bloomberg reports. HSBC, which has roughly 7,500 locations in some 80 countries, also announced plans Monday to shed 30,000 jobs worldwide.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
