HSBC Securities Services has announced that Nick Bryan, head of custody and corporate trust services, will retire at the end of June.

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.