HSBC’s securities services assets under custody have reached a new milestone due to new business mandates.
Assets under custody are now above $10 trillion, following a 30 per cent year on year increase. Its assets under administration have also reached a new milestone of $2.9 trillion.
According to C. Allegra Berman, co-head of securities services and head of institutional sales, HSBC’s strategy is focused on extending its position as the market-leading securities services provider for Asia and the Middle East, while servicing the global needs of its institutional investor clients across its international network.
“This achievement is testament to our strategy, our client-led approach and the resilience of the securities services industry,” says Berman.
Richard Godfrey, co-head of securities services and co-head of securities financing, comments: “This milestone has been achieved at the first year anniversary of the merger of HSBC’s Securities Services and Global Markets units to form the Markets & Securities Services division.”
Godfrey adds: “As a combined business, we’ve strengthened our capabilities to support our institutional investor clients across the investment lifecycle.”
Last month, AXA Investment Managers, the Paris-based international fund house, has appointed HSBC as its UK provider of global custody and fund depository services.
