HSBC to launch wealth management business
HSBC has announced plans to establish an Australian-based wholesale wealth management business.
HSBC will offer HSBC global asset management products from its specialist investment businesses including Habis and Sinopia as well as HSBA alternative investments’ fund of hedge funds and tailor made institutional portfolios of funds.
HSBC chief executive officer Stuart Davis said the bank was leveraging its global competitive advantage here in Australia.
“We’re identifying wealth management areas that HSBC dominates overseas and bringing their products, systems and expertise to meet Australian demand, giving Australian investors access to international and emerging market investment opportunities.”
HSBC head of funds and investments Charles Genocchio will be responsible for the new business, distributing HSBC global asset management products and HSBC alternative investments to institutional clients and wholesale platforms.
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