A woman walks past a banking office in La Defense near Paris. Photo: Reuters A woman walks past a banking office in La Defense near Paris. Photo: Reuters
A woman walks past a banking office in La Defense near Paris. Photo: Reuters

HSBC takes US$2.3 billion hit with sale of French retail bank to Cerberus-backed My Money Group

  • Latest sale follows a similar move last month by the UK-based lender to pull out from the US retail banking business
  • Cerberus’ My Money unit to acquire HSBC’s business for a token €1, and absorb 244 branches, around 3,900 staff and €24 billion of assets

Topic |   Mergers & Acquisitions
A woman walks past a banking office in La Defense near Paris. Photo: Reuters A woman walks past a banking office in La Defense near Paris. Photo: Reuters
A woman walks past a banking office in La Defense near Paris. Photo: Reuters
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