Norton Rose Fulbright advises HSBC on the transfer of its South Africa branch business to FirstRand Bank

Global law firm Norton Rose Fulbright has advised HSBC on its agreement to transfer its South Africa branch business to FirstRand Bank Ltd (FRB).

The transaction, which is subject to regulatory and governmental approvals, is expected to be completed in the fourth quarter of 2025.

It will include the transfer of the South Africa branch’s clients, banking assets and liabilities. The branch’s employees will also transfer to FRB as part of the agreement.

The multi-jurisdictional Norton Rose Fulbright team advising on the deal was led by London-based corporate partner Alan Bainbridge.

Director Stephen Kennedy-Good (South Africa), consultant Chris Thornes and associates Emma Lai and Eleanor Jones (London) supported on corporate aspects, with partner James Russell, consultant Rohan Isaacs and associate Kelsey Oosthuizen (London), and counsel Kerri Gevers (London and Singapore) advising on related areas. Directors Desiree Reddy and Mark Griffiths (South Africa) advised on bank regulatory and anti-trust issues, respectively.

The lawyers who comprise Norton Rose Fulbright's global corporate, M&A and securities practice advise corporations and financial institutions across the full spectrum of industry matters including public takeovers, private M&A, joint ventures, disposals, debt and equity capital markets, governance, general commercial and corporate advisory matters.