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.
Tag : outsourcing
The public pension fund reserve saw AUM top Rmb1 trillion after a local government mandate and healthy returns. If it continues to diversify, it's expected to raise mandated assets.
Amid rising cross-border investment from Asian asset managers, BNP Paribas Securities Services argues it can complement managers' existing trading desks through outsourcing.
AmInvest has outsourced middle-office functions to State Street in response to its offshore expansion plans and a trend for Malaysian institutional investors to select their own custodians.
New Hong Kong-based start-up Cathay Conning Asset Management outsources its middle and back office to Citi.
They eagerly await regulatory approval for the first fund admin outsourcing deal, while some see the opening of local custodian business to foreign banks as imminent.
The firm is looking to roll out back-office outsourcing on the island in the near future, despite considerable challenges and inertia for such services.
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.
The UK bank’s asset management unit is about to launch its Portfolio Solutions offering for institutional clients in the region.
Korea’s $311 billion National Pension Service will expand its manager outsourcing programmes in other asset classes.
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BNP Paribas maintains that attitudes around third-party clearing are shifting, despite a low uptake by brokerages.
The launch widens HSBC's footprint in the lucrative market for third-party agency clearing services in Asia.