HSBC Brokerage Inc. said Tuesday that it has merged into its broker-dealer affiliate, HSBC Securities Inc., and taken the latter's name.
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HSBC Brokerage historically has served personal clients of the parent HSBC Holdings PLC, and HSBC Securities has served corporate and institutional clients.
Anthony J. Murphy, the chief executive officer of HSBC Securities, said in a press release that consolidating the companies will give personal clients better access to markets, a broader array of products, and improved efficiencies. The merger is to have no impact on customers' accounts nor cause any disruption of service. HSBC Brokerage accounts were automatically converted to HSBC Securities accounts Jan. 1.
