• Home
    • Articles
    • Letter from Bermuda: The psychological impact of HSBC’s purchase of Bermuda’s crown jewel

    Letter from Bermuda: The psychological impact of HSBC’s purchase of Bermuda’s crown jewel

    We were not a little surprised this week when the Bank of Bermuda (BoB) announced that it wanted to be purchased by Hong Kong & Shanghai Banking Corporation. The bank is our largest financial institution and the largest private sector employer, until the deal is sealed. We have yet to hear from the bank’s shareholders and the Bermuda Monetary Authority, neither of whom is expected to throw up much opposition, although why the shareholders would choose not to turn this deal down is beyond understanding.