The branch will open in January, at the same time as the HSBC group’s local commercial branch.
HSBC Investment Banking of the HSBC group has announced it will open an investment banking branch in Tel Aviv at the beginning of 2001. The investment bank’s branch will be opened at the same time as the HSBC group’s first commercial branch in Israel. The bank’s intention to open a branch in Israel was published six weeks ago in “Globes”.
The investment bank’s branch will focus on investments, capital raising, and high tech mergers and acquisitions. A senior London HSBC executive, who has not yet been chosen, is expected to head the branch. The investment bank branch will be located in offices adjacent to those of the commercial bank on Rothschild Boulevard in Tel Aviv.
HSBC’s first commercial branch is scheduled to open at the beginning of January. Yehuda Levy, a former deputy general manager of the First International Bank of Israel, will head the commercial branch. The commercial branch will focus mostly on private banking and investments.
HSBC will be the second foreign bank to open a commercial branch in Israel, after Citibank, which opened a local branch six months ago.
Published by Israel's Business Arena on December 5, 2000