hsba201207066k1.htm
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a - 16 or 15d - 16 of
the Securities Exchange Act of 1934
For the month of July
HSBC Holdings plc
42nd Floor, 8 Canada Square, London E14 5HQ, England
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).
Form 20-F X Form 40-F ......
(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934).
Yes....... No X
(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ..............).
6 July 2012
HSBC MONACO SELLS PART OF PRIVATE BANK
CLIENT PORTFOLIO
HSBC Private Bank (Monaco) SA, a wholly-owned subsidiary of HSBC Holdings plc, has entered into an agreement to sell part of its portfolio of client accounts to Crédit du Nord, Monaco Branch, a wholly-owned subsidiary of
Société Générale SA.
The portfolio comprised assets under management of approximately US$140m at 14 May 2012, the date of the agreement. Completion is expected on 1 October, 2012.
Media enquiries to Andy Berry on +44 (0)20 7992 5589 or at andy.berry@hsbc.com
Note to editors:
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,200 offices in over 80 countries and territories in Europe, the Asia-Pacific region, North and Latin America, and the Middle East and North Africa. With assets of US$2,637bn at 31 March 2012, the HSBC Group is one of the world's largest banking and financial services organisations.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
HSBC Holdings plc
By:
Name: P A Stafford
Title: Assistant Group Secretary