HSBC to drop plans for Midland Bank rebrand

HSBC will decide against plans to bring back Midland Bank as part of a rebranding of its UK branches, according to reports.

Chief executive Stuart Gulliver announced the bank would seek a separate identity for UK retail banks in June. Chairman Douglas Flint later told the FT the return of the Midland brand was “odds-on favourite”.

However, Sky News now reports HSBC has rejected the idea after research found little customer affinity for the name.

Alternatives reportedly being considered include using the name of online and telephone service First Direct, or simply using HSBC’s logo alone.

An HSBC spokeswoman declined to comment.

The news comes as the bank continues to evaluate the location of its headquarters.

Reporting a profit of £8.7bn for H1 earlier this month, HSBC said “detailed work” continues on the review, with a conclusion expected by the end of 2015.