Linklaters has cemented its strong position in the financial institutions M&A sector with the disposal of HSBC Bank’s £1.2bn UK and continental Europe private equity business – the latest in a series of management buy-outs to be closed by the magic circle firm.

The firm advised HSBC on the sale of its private equity branch – to be renamed Montagu Private Equity (MPE) – to Montagu Holdings, a company formed by managers of the HSBC offshoot.