HSBC Continental Europe completed the sale of its retail banking business in France to CCF, a subsidiary of Promontoria MMB SAS (My Money Group) on Jan. 1.
My Money Group and CCF are under the control, directly or indirectly, of funds and accounts managed or advised by Cerberus Capital Management.
As the transaction also included the sale by HSBC Continental Europe of its 100% ownership interest in HSBC SFH France (HSFH), HSFH is now wholly owned by CCF and has changed its legal name to CCF SFH, effective Jan. 1.
