HSBC reveals it is to close Dublin-based division

HSBC has decided to close its private bank and wealth management division in Ireland.

A spokesperson says no other divisions of HSBC’s Ireland operations will be affected by the closure.

A statement made to the Irish Examiner, said: “HSBC Private Bank has confirmed its intention to close its office based in Dublin. HSBC last year announced a strategic review of its global business including its wealth management operations; this decision is a direct result of the continuing five filter portfolio review. HSBC Private Bank Ireland will cease to undertake new business with immediate effect.”