HSBC Holdings Regulatory News (HSBA)

17 Mar 2006 09:30

HSBC Holdings PLC17 March 2006 HSBC FRANCE SELLS ISSUER SERVICES BUSINESS TO CACEIS HSBC France has sold its issuer services business to CACEIS for €410,000(US$492,533). The sale relates to the management of registered share account activity forissuing companies. These accounts will be transferred to CACEIS Corporate Trust,the issuer services subsidiary of CACEIS, commencing in the second quarter of2006, through to December 2006. HSBC France intends to focus on its stock option scheme and bonus share issuemanagement businesses which are not included as part of this sale. The deal will enable CACEIS to strengthen its market position in line with itsgrowth strategy. Clients will benefit from the experience and long-term supportoffered by the company. Notes to editors: 1. HSBC Holdings plcHSBC Holdings plc serves over 125 million customers worldwide through some 9,500offices in 76 countries and territories in Europe, the Asia-Pacific region, theAmericas, the Middle East and Africa. With assets of US$1,502 billion at 31 December 2005, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'. 2. CACEISCACEIS combines the securities services business lines of Credit Agricole S.A.and Caisse Nationale des Caisses d'Epargne, dedicated to depositary andcustodial services, fund administration and issuer services for institutionaland corporate clients. Present in six European countries (France, Luxembourg,Ireland, Spain, Belgium and the Netherlands) and with a total of 2,400employees, CACEIS is one of the world's frontranking providers of custodialservices with €1,547 billion in assets, and is one of the leading European fundadministrators with a total of €746 billion of assets under administration(figures as at 31 December 2005). www.caceis.com This information is provided by RNS The company news service from the London Stock Exchange