HSBC has appointed Fortis as its sub-custodian in the Netherlands. It follows the transfer by HSBC of its Belgian assets to Fortis Bank a year ago. Fortis services Brussels from Amsterdam, where it secured a Top Rating in the 2005 Global Custodian survey of agent banks in major markets.
“Fortis Bank have proved their capability and competitiveness handling our Belgian assets and the Dutch custody for one of our subsidiaries, so we are confident that they will prove to be an excellent agent for HSBC,” says Brian Pettitt, Head of Network Management for HSBC. “We look forward to a long and mutually beneficial relationship.”
“We are very pleased to have been selected to serve as their subcustodian,” adds Marcel Jongmans, Chief Executive Officer Global Clearing and Custody at Fortis. “We are looking forward to building a strong and lasting relationship with HSBC Group.”