HSBC restructures its Fund Services business


20 Jun 2008

HSBC Securities Services (HSS) has restructured its fund services senior management team with four new appointments. These appointments demonstrate the further amalgamation of the Institutional Fund Services and Alternative Fund Services businesses.

At 31 December 2007, HSS had global assets under custody of USD6 trillion and global assets under administration of USD1.4 trillion. It has operations in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa, providing comprehensive securities services for the asset management industry, including fund administration, corporate trust and loan agency, and sub-custody and clearing.

The four new appointments are:

Mike Martin Mike Martin
Global Head of Fund Services. Mike was previously Head of Institutional Fund Services, having joined HSBC in 1998.
Lilian Wong Lilian Wong
Head of Fund Services, Asia-Pacific. Lilian was previously Head of Alternative Fund Services, Asia-Pacific, having joined Bank of Bermuda in 1986.
Scott Epstein Scott Epstein
Head of Fund Services, North America. Scott was previously Head of Alternative Fund Services in New York. Scott joined HSBC in 2001 as Vice President and Senior Client Services Manager for Bank of Bermuda.
Jayant Rikhye Jayant Rikhye
Head of HSBC Securities Services for the Middle East and North Africa. Jayant was previously Deputy Global Head of Institutional Fund Services and Head of Institutional Fund Services, Asia-Pacific, having joined HSBC in India in 1989.

"Bringing together the Institutional and Alternative Fund Services businesses is in direct response to the convergence requirements of our clients," said Tim Howell, Global Head of HSS. "Restructuring my senior management team puts us in an excellent position to address the challenges and opportunities intrinsic in such a fast growing business."

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