The Financial Times reports a circular sent to staff at CCF Charterhouse disclosed the UK bank has decided to sell all or part of Credit Commercial’s investment bank in London.
But HSBC is interested in retaining Charterhouse Development Capital, Charterhouse’s £2 billion private equity fund, as well as its corporate finance arm and its special investments business.
Observers estimate that CCF Charterhouse is worth up to £250m if sold as a whole, but only between £80m-120m shorn of the private equity and other businesses.