By Razak Musah Baba
LONDON--HSBC Trust Company (UK) Ltd., a subsidiary of HSBC
Holdings PLC (HSBA.LN), is to sell its U.K. probate services
business to Simplify Channel Ltd. for an undisclosed sum.
As part of the sale, up to 73 employees will transfer to
Simplify, HSBC said Wednesday. There are no other assets being
transferred as part of this transaction, which is expected to
complete in the fourth quarter of the year, it said.
HSBC Trust has also entered into a referral agreement with
Simplify for U.K. customers requiring probate support.
HSBC Holdings PLC shares at 0820 GMT up 7 pence, or 1.1%, at 633
pence.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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