Braveheart Investment Group, a London-listed firm focused on investments for "business angels", high net worth individuals and family offices, has ended its banking relationship with Lloyds Banking Group, switching to HSBC to obtain a more international service, the firm said today.

“The agreement involves the provision of credit facilities to the group, operating accounts for both the group and its clients, case-by-case specialist services and funding for portfolio companies,” Braveheart said.

The partnership replaces the agreement between Braveheart and HBOS before HBOS became part of Lloyds Banking Group two years ago. (Lloyds’ takeover of HBOS, which was saddled with heavy bad debts, led to the UK bank being bailed out by the UK taxpayer).

“Given our increasingly international focus we felt it was important to work with a bank that offered clear expertise overseas as well as a strong footprint here in the UK.  HSBC is developing its SME business in Scotland, where Braveheart has its headquarters, and understands how important the private company growth market is to the UK as a whole,” Geoffrey Thomson, chief executive of Braveheart, said.

Braveheart is quoted on the Alternative Investment Market (AIM).