View more on these topics

HSBC and Merrill Lynch launch online bank

HSBC and Merrill Lynch have announced plans to launch a joint online bank which will create 300 jobs in the UK and offer a wide range of products and financial services to customers globally.

The £1bn venture will be up and running later this year, and will serve retail customers worldwide except the U.S.

The new bank, to be called Merill Lynch HSBC, is targeted at wealthy individuals who earn between £100,000 to £500,000 in net assets. It will give them the opportunity to invest in global stocks for the same price as domestic shares.

Services that will be available include equity dealing, cash management, chequing, debit cards, statements and financial planning.

Merrill Lynch brings to the venture previous experience in on-line banking, and HSBC&#39s contribution is their wide-reaching customer basis that extends into Asia and Europe.


Seumas is hanging up his 14 sporrans

Former Pearl Assurance salesman Seumas McSporran is hanging up his hat,cap, helmet and a whole host of other headgear as he retires from a totalof 14 different jobs on Gigha, a wee island off the Mull of Kintyre on thewest coast of Scotland. The 62-year-old held down jobs as the island&#39sinsurance broker, policeman, fireman, pier […]

Correspondent&#39s Week

Having lived in London for almost two years, I arrived back in Edinburghwith mixed emotions – thrilled to be back in Scotland and absolutelyecstatic to be no longer living in England.It is the dream of every Scottish, middle-class, privately educatedaspiring journalist to one day work for The Scotsman or at least it is thedream of […]


Blood on the trackers

Five years ago, pension tracker funds were only just coming on to employeebenefit consultants’ radar screens. Now, the two biggest trackers dwarftheir actively managed competitors.The BGI and Legal & General tracker funds are each bigger than the 10biggest pooled pension funds on the Caps survey added together.Moreover, indexation has become an assumed part of segregated […]

Lifestyles dictating demand for loans

Flexible loans are proving popular because of the changes in UK consumers&#39lifestyles, according to Yorkshire Building Society.Yorkshire says changes in working practices mean that over 50 per cent ofits loan applications are for flexible products.The society set up its flexible mortgage last November and says the quicktake-up is due to demand among consumers for more […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm