HSBC Relocates Zimmerhansl to Hong Kong in Asia Sec Lending Push

HSBC Securities Services has relocated Roy Zimmerhansl, global head of Securities Lending, from London to Hong Kong, as it looks to tap the rising securities lending market in Asia.
By Joe Parsons(2147488729)
HSBC Securities Services has relocated Roy Zimmerhansl, global head of Securities Lending, from London to Hong Kong, as it looks to tap the rising securities lending market in Asia.

Zimmerhansl, a veteran of the custody industry, arrived in Hong Kong earlier this week.

The move comes as the securities lending market in Asia, particularly China, is becoming increasingly attractive for domestic and international investors.

“Europe, from a market and trading point of view, is still adapting to the changing regulatory environment, whereas Asia is about growth and expansion,” says Zimmerhansl.

Securities lending in China has only gradually developed since the start of a pilot project in 2012, which intended to liberalize short-selling and boost China’s derivatives market.

However, demand for financing in China’s capital markets is set to take off as its domestic A-Shares market increasingly opens up to foreign investors via Stock Connect, a mutual market access program between Hong Kong and Shanghai.

“In China, securities lending is only allowed domestically right now, but we see that market evolving. Especially with the Shanghai-Hong Kong Stock Connect and opening of the Chinese market, we want to a part of that discussion to opening up securities lending there,” he adds.

The bank is currently in the process of hiring a London-based European head, as well as building Zimmerhansl’s team in Hong Kong, which it plans to announce in the coming months.

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