News Snapshot:
HSBC has put its Canadian business up for sale as part of a strategic review, exploring a possible deal that could fetch upwards of $10-billion as the British-based bank comes under pressure from its largest shareholder to boost its performance. “We are currently reviewing our strategic options with respect to our wholly owned subsidiary in Canada,” an HSBC spokesperson said in an e-mail. “Amongst the options being explored is a potential sale of HSBC Group’s 100-per-cent equity stake in HSBC Bank Canada.” The Canadian arm of HSBC is the seventh-largest bank in the country with $125-billion in assets and roughly...
