HSBC Rebrands Asset Management Business

by Phillip Morton, Investors Offshore.com

26 June 2008

HSBC announced last week that its asset management business was rebranded HSBC Global Asset Management with effect from 2nd June, 2008. Previously, this division was known as HSBC Group Investment Businesses, which included HSBC Investments.

Commenting on the rebranding exercise, Mark McCombe, Chief Executive of HSBC Global Asset Management, explained: “We are changing our name to HSBC Global Asset Management because it better reflects the breadth, strength and expertise of our business. It also highlights one of our key competitive advantages, our global footprint, which complements our deep roots in local markets."

As part of the rebrand, all entities operating as HSBC Investments will adopt the HSBC Global Asset Management name. HSBC Global Asset Management will also encompass the established specialist asset management businesses, namely Halbis (active management specialist) and Sinopia (quantitative specialist) and the specialist business units Liquidity (cash management) and Multimanager (best-inclass managers).

HSBC said in its announcement that the ‘multi-specialist’ model developed over the past four years will remain a defining feature of HSBC Global Asset Management. Therefore the specialist businesses and business units will maintain their own identities and brands but will all be clearly endorsed as HSBC Global Asset Management businesses.

Accordingly, the Bermuda arm of this business has changed its name to HSBC Global Asset Management (Bermuda) Limited with effect from 2nd June, 2008.

HSBC Global Asset Management is a leader in emerging markets with almost USD100bn of emerging markets assets under management out of a total of USD397.4bn (at end March 2008).

McCombe added: “We will continue to build a global asset management company that is focused, responsive to clients and delivers value to all stakeholders. This is being achieved by leveraging our expertise, especially in emerging markets, and by delivering consistently strong investment performance and client service."

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