Banking giant HSBC is to rebrand its British retail business as HSBC UK, ending months of speculation that the group was to revive the Midland name on the high street.
The group, which is renaming the division ahead of new rules to ring-fence retail operations from investment banking, said it had decided to keep the HSBC name after consulting with staff and customers. It will roll out the rebrand from 1 January, 2018.
It is understood Midland was one of a few options considered for the new name, as the lender’s branches used to be known as Midland Bank before they were swallowed up by HSBC in 1992.
The group’s ring-fenced retail banking business will be headquartered in Birmingham.