HSBC readies for fund admin outsourcing trend in China
The bank has established a team in Shanghai and is working with a local fund house to explore outsourcing opportunities on the understanding that deregulation is inevitable.
HSBC has set up a project unit in Shanghai to look into fund admin outsourcing opportunities in anticipation of likely deregulation and is set to relocate a senior team leader in the near future.
Fund administration is performed in-house by Chinese fund houses at present since outsourcing is not permitted under national regulation, with the exception of the transfer agent function, which can be carried out by the China Securities Depository and Clearing Corporation.
Foreign bank…
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