British banking giant HSBC has decided to rebrand its UK retail operation as HSBC UK to distinguish the ring-fenced bank from the non-ring-fenced bank.
The bank said it took this decision following a consultation process with retail, private and commercial banking customers, as well as customer-facing staff.
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"Feedback indicated that the HSBC brand represents strength and connectivity, supporting the domestic and international ambitions of our customers," the bank said in its press statement.
The new name will be introduced across the UK from 1 January 2018, a year before laws requiring banks to separate their retail banking business becomes effective.
The ring-fenced bank will be headquartered in Birmingham.
Commenting on the decision, HSBC Group CEO Stuart Gulliver said: "As outlined at our Investor Update in June, setting up the UK ring-fenced bank in Birmingham is a key strategic action for the Group. Our ambition is to be the bank of choice in the UK and as a name, HSBC UK will build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market. "
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