Grupo Financiero Galicia to acquire HSBC Argentina from HSBC for $550m.

Grupo Financiero Galicia, a financial services holding company, agreed to acquire HSBC Argentina, the principal HSBC operating company in Argentina, from HSBC, a British universal bank and financial services group, for $550m. “We are pleased to agree the sale of HSBC Argentina. This transaction is another important step in the execution of our strategy and enables us to focus our resources on higher value opportunities across our international network," Noel Quinn, HSBC Group CEO.