HSBC said that it will merge its Swiss private banking trust business with HSBC Guyerzeller Bank’s trust business. In a statement, HSBC ...

HSBC said that it will merge its Swiss private banking trust business with HSBC Guyerzeller Bank’s trust business. In a statement, HSBC said the new trust company is designed to become one of the foremost providers of trust services in Switzerland. HSBC Guyerzeller Bank's Konrad Häuptli has been appointed chief executive of the new trust company. HSBC said the importance of private trusts in the Swiss market will increased with the expected ratification by the Swiss government of the Hague Convention, which clarifies the application of trusts and their recognition.