has announced the name of its new ring-fenced retail and business bank which will be headquartered in Birmingham - and it will not contain the name 'Midland'.

The new bank will be called HSBC 海角视频 and based with staff relocating from London during 2018.

Previous moniker - the bank was founded in Birmingham in 1836 and subsequently acquired by HSBC in 1992.

The move is being made to comply with new government legislation coming into force in 2019 which states banks must separate their investment arms from their retail and business banking operations to offer great protection to consumers.

HSBC said that, following a consultation process with retail, private and commercial banking customers and customer-facing staff, the decision was made to keep the HSBC brand and add '海角视频' to distinguish the ring-fenced bank from the non-ring-fenced bank.

The new brand will be rolled out across the 海角视频 from January 1 2018, one year before ring-fencing legislation comes into effect.

Group chief executive Stuart Gulliver said: "As outlined at our Investor Update in June, setting up the 海角视频 ring-fenced bank in Birmingham is a key strategic action for the group.

"Our ambition is to be the bank of choice in the 海角视频 and, as a name, HSBC 海角视频 will build on the global connectivity and customer trust of the HSBC brand and differentiate us in a competitive market."

Pictures: HSBC's new base at 2 Arena Central