The giant bank that just finalized a deal to buy Edmond Safra’s Republic empire said the $9.9 billion sale would go through despite his murder.
London-based HSBC said they were “appalled” by the killing but had every intention of completing the deal and preserving Safra’s legacy.
“HSBC will uphold the banking tradition and integrity which were the hallmarks of Edmond’s life,” said Sir John Bond, chairman of HSBC Holdings.
The deal — announced in May — was the crowning glory of Safra’s career.
It hit a major snag in September when a client of Republic’s securities arm was accused of defrauding Japanese clients to the tune of $1 billion.
HSBC was scared about liability in the case, but Safra saved the deal by agreeing to accept $450 million less for his holdings in Republic National Bank of New York and the Luxembourg-based private bank Safra Republic.
Safra’s stake in the deal is now worth $2.84 billion.