HSBC offloads property advice unit
Global banking titan HSBC has sold off its UK property advisory unit, Property Vision Holdings Limited, to a company set up by members of the subsidiary's management team.
Global banking titan HSBC has sold off its UK property advisory unit, Property Vision Holdings Limited, to a company set up by members of the subsidiary's management team.
PV Acquisition Limited will buy the entire business from HSBC Private Bank (UK), which first took over the division in 2011.
The company, which specialises in finding UK property and providing advice on purchasing property to private clients, had gross assets of $7.2m by June 30th 2012.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The sale of this non-core business represents further progress in the execution of the HSBC Group's strategy and completion of the transaction is expected during the fourth quarter of 2012," the bank said.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 7 year inheritance tax rule and how does it help cut your bill?
Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.
-
HMRC confirms crypto ETN ISA rules
With crypto ETNs now technically available for UK retail investors, HMRC has confirmed they can be held in an ISA – but there’s a complication