HSBC Private Bank is formally launching its operations in the north-west of England this week and is targeting high net worth individuals wi...

HSBC Private Bank is formally launching its operations in the north-west of England this week and is targeting high net worth individuals with over £2 million ($3.76 million) in investable assets or borrowing needs of £1 million. HSBC’s internal research suggests that 30,000 people in the north-west of England meet these criteria. HSBC Private Bank launched regional UK operations last year with offices in Leeds, Birmingham and Cardiff. Rival Coutts has long been established as a regional player in the north west, having had an office in Manchester since 1992, and more recently an office in Liverpool which now has 14 staff. Recent independent research suggests, though, that at least 50 per cent of the UK’s wealth is concentrated in the London area.