HSBC opts for most boring name change imaginable
Earth-shaking news from the banking sector this morning, after HSBC unveiled the name of its ring-fenced UK bank: HSBC UK. Try to contain your excitement.
It had been speculated that the bank was toying with the name "Midland", the chain it acquired in the early 1990s.
But in a statement this morning, HSBC said that after a "consultation process with retail, private and commercial banking customers, as well as customer-facing staff" (we wonder how much that cost), it had decided to opt for HSBC UK.
"Adding 'UK' [will] distinguish the ring-fenced bank from the non-ring-fenced bank," it helpfully pointed out.
Stuart Gulliver, HSBC's chief executive, suggested the new brand will "build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market". If you say so…