HSBC often leverages its 144 year history in Asia, but according to Colin Brooks, Global Head of Sub-Custody and Clearing, HSBC Securities Services, manager longevity is also a driving factor to success. “We do keep heads of business in place for a few years,” said Brooks, when asked what he sees as one of the key parts of HSBC’s regional success in Asia.
HSBC works hard in gaining local market knowledge, but also works with and influences regulators and exchanges in the region, according to Brooks. Although no information was forthcoming regarding the bank’s reported listing on the Shanghai stock exchange, Brooks was positive regarding the future of the industry after the demise of the broker/dealer model, as broker/dealers are now looking to outsource their middle office, an area where HSBC is qualified to benefit from new business.
Intra-Asian investment flows was also mooted as an important trend in the region, with HSBC’s presence in a wide number of markets well placed to benefit.