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Based in Hong Kong, Bryan notched up a 33-year career with HSBC during which he worked in the securities services business for 17 years. He has headed the custody and corporate trust businesses for the past 10 years.
Bryan will not be replaced, but will act as a part-time consultant to HSBC over the next 18 months. Colin Brooks, global head of custody and clearing, and Charles Song, global head of corporate trust and loan agency, both based in Hong Kong, will continue to lead their respective businesses and will report directly to Tim Howell, global head of securities services.
The news of BryanÆs retirement comes as the bank continues its rollout of new products and services across the region.
"We are working with clients in Asia to assess where there are opportunities for them to outsource non-core activities to third-party providers,ö says Brooks.
ôWe are talking to custodians and broker dealers about that. Also if you look at the massive growth in Asia-Pacific over the last 12 to 18 months, we are also reviewing our processes and infrastructure to make sure we have the capacity to facilitate our clients' requirements," he adds.
HSBC Securities Services provides fund administration, corporate trust, subcustody and clearing services to banks, corporations, global custodians and cross-border institutional broker-dealers.
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
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SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.