HSBC Says It's Not Buying An Investment Bank

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We promise we won't spend yet another day talking about nothing but Lehman Brothers. One more story and then it's time to move on. Bloomberg is reporting that HSBC is "highly unlikely" to buy an investment bank according to its Asia CEO. Ladenburg Thalmann & Co analyst Richard Bove had been touting the possibility that HSBC was a potential buyer.

"Our approach, as we've said, is it's highly unlikely that we will take a major interest in an investment bank," Sandy Flockhart, CEO of HSBC's Asia-Pacific region, told Bloomberg Television when asked about speculation that London-based HSBC may invest in Lehman. He declined to comment on specific companies.

HSBC douses speculationHSBC douses speculation [Bloomberg via Business Standard]

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