August 22, 2011 / 12:22 PM / 7 years ago

HSBC eyes sale of Canadian brokerage, paper says

TORONTO, Aug 22 (Reuters) - HSBC Holdings PLC (HSBA.L) is fielding offers for its Canadian wealth management unit as part of the banking giant’s massive worldwide restructuring, according to a newspaper report.

The U.K. bank has given potential bidders access to the books on its Canadian retail brokerage, which manages more than $30 billion of investors’ money, Canada’s Globe and Mail reported on Monday.

The financial statements are now being reviewed by at least one interested party and a formal deal could materialize soon, the paper said in an unsourced article.

Although no suitors have been formally named, National Bank (NA.TO) is believed to be in the running.

Spokeswomen for HSBC Canada and National Bank were not immediately available for comment.

HSBC Bank Canada’s core personal banking operations are not up for sale, the paper said.

Reporting by Euan Rocha

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