HSBC weighs up floating UK arm

HSBC is weighing up floating its UK arm, according to reports, ahead of new rules that demand banks ringfence their retail banking operations.

The bank, Britain's largest, has reportedly been talking to investors about whether or not they would support the project, according to the Telegraph. There have also been informal discussions at board level to gauge opinion on the idea, the Financial Times reports. People familiar with the matter, which is still in the early stages, told the paper the most likely plan would be to list a minority stake of up to 30% in the UK retail and commercial banking operation. Investors have estimated that the UK arm could float with a total market value of roughly £20bn. HSBC is said to b...