HSBC and Merrill Lynch are starting a stand-alone $1bn online financial services venture, focusing on non-US customers with at least $100,000 to invest.

The partnership, which will offer an array of banking services from online banking to bond and stock trading, is a bid by both institutions to offer a wraparound package fusing Merrill's brokerage expertise with HSBC's global banking network.

HSBC and Merrill in online banking venture

Marc Sousley

HSBC

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