Scott Markowitz has joined J.P. Morgan to head its Americas direct custody business. Markowitz spent four years at HSBC, most recently heading the securities services business in the Americas, following 16 years at BNY Mellon. J.P Morgan has also appointed Tom Casteleyn as head of global custody for EMEA, including responsibility for UK direct custody.…
Category: HSBC
HSBC hits USD10trn AuC
For H1 2021, HSBC’s assets under custody rose to more than USD10trn, following a 30pct year-on-year increase. Its AuA reached USD2.9trn. Over the same period, revenues for the securities services business rose by 3pct.
AXA IM consolidates UK UCITS fund range with HSBC
AXA Investment Managers has appointed HSBC as sole global custodian and depositary for its UK UCITS fund range, covering 36 funds and GBP12.6bn (USD17.1bn) AuM. The AXA IM UK UCITS range consists of AXA IM Framlington Equities active funds, AXA IM Rosenberg Equities quantitative investment funds, as well as funds from AXA IM’s fixed income,…
HSBC adds two senior bus dev execs to asset manager team
HSBC’s securities services business has made two senior appointments in its asset manager sector. Mark Low is appointed client executive – asset managers, Europe, reporting to Michelle Butler, head of business development & client management – Europe, asset owners & managers. He joins from RBC where he spent eight years, predominantly responsible for the asset…
True Potential appoints HSBC as administrator
HSBC has been appointed as third-party administrator by True Potential LLP for all of the 34 UK-authorised funds offered on the firm’s in-house platform, which has GBP17bn AuM. The new mandate will see HSBC provide depositary, global custody, fund accounting and transfer agency services to these funds.
CC&L appoints HSBC to administer new Irish ICAV
HSBC has been appointed by Connor, Clark & Lunn Financial Group Ltd, one of Canada’s largest independent asset management firms, to provide fund administration, transfer agency, custody and depositary services to its first Ireland-registered UCITS umbrella fund. The initial sub-funds include the CC&L Q Emerging Markets Equity UCITS Fund and the CC&L Q Global Equity…
Michael Madsen joins HSBC to head global PA product
HSBC has appointed Michael Madsen as global head of product for private assets for its securities services business. In this new role, Madsen will focus on development of the private assets product strategy and operating model. He will be based in Luxembourg, reporting to Tony McDonnell, global head of alternative investments, securities services, and Niccolo…
HSBC facilitates launch of two new China-Japan ETFs for Daiwa AM
HSBC has facilitated the listing of two new cross-border ETFs under the China-Japan ETF Connectivity scheme. This allows international investors to indirectly invest in Chinese assets through feeder ETFs listed on the Tokyo Stock Exchange. HSBC provided onshore QFII custody services to enable Daiwa Asset Management Co. Ltd to set up two new ETFs under…
HSBC completes first sec lending trade in Saudi Arabia
HSBC has completed the first securities lending transaction in Saudi Arabia. HSBC acted as custodian and agent lender on the transaction for a large regional asset owner, enabling HSBC, in its role of prime broker, to borrow Saudi Arabian equities from the asset owner and provide access to the country’s equities market for a global…
HSBC launches fund admin services in Thailand
HSBC has launched fund administration services in Thailand. This comes after Thailand’s Securities Exchange and Commission relaxed outsourcing rules to improve the efficiency of local fund managers’ operations. Under this model, clients can use HSBC’s fund administration services in addition to custody and fund supervisory services currently offered. The service will be offered through Multifonds,…