The firm scooped AsianInvestor's Asset Services Provider of the Year award on the back of strong business growth driven by China-Hong Kong cross-border investment activity.
HSBC Securities Services is to use its new custody licence to win business from Chinese insurers, but it has been warned the fiercely competitive domestic market will be tough for any foreign bank to crack.
Lehman's hedge fund clients have only started to regain assets that have been frozen for nearly five years, with the bank's crash precipitating changes in custody arrangements.
Asia managers need to identify the right business model and focus on core competencies, says Glenn Kennedy, regional head of hedge funds sector for HSBC Securities Services.
The launch widens HSBC's footprint in the lucrative market for third-party agency clearing services in Asia.
Ex-Deutsche executive Nico Torchetti will develop services for HSBC’s burgeoning third-party agency clearing business.