HSBC becomes the latest global custodian to offer broker outsourcing services to top-tier broker-dealers. But some analysts say smaller brokers would gain more from these services.
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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.
The UK bank rotates three senior custody executives between Australia, Hong Kong and Japan.
