Merrill Lynch HSBC has launched its full online transactional service for UK investors, including a commission-free share-dealing offer until 31 October 2001.
The joint venture operation between Merrill and HSBC is aimed at the new mass affluent consumer market and invites investors to manage their investments and banking online, through an integrated multi-currency investment and banking account.
In the UK, Merrill Lynch HSBC is complementing its online operation by opening two physical investment centres: a "flagship" in London's Lower Regent Street, and a co-located investment centre at the HSBC branch in Birmingham's New Street. Investors will be able to set up and manage their finances on the centre's computers, and call on investment centre staff for help if they need it.
Merrill Lynch HSBC opened for business in Australia and Canada last year. Seemingly unperturbed by the dissolution of so many similar online ventures by other banks, MLHSBC insists the service will be rolled out internationally over the next four to five years as planned.