HSBC Securities Services announced Thursday that it has been chosen by Royal London Asset Management to provide a full range of securities services for RLAM’s combined $40 billion in assets.
HSBC will provide securities services for the firm’s global custody, securities lending and investment administration activities in phases beginning in June.
Richard James, RLAM head of operations, said HSBC’s technology offerings played into the decision to move services away from JPMorgan, the firm’s current provider.
“This mandate is testament to the strength of our relationship with RLAM, and we are delighted to welcome all of the high quality, professional staff who will be joining us,” says Mike Martin, head of HSBC Securities Services, Europe. “HSS and RLAM have created the basis for a partnership that exceeds the industry’s traditional product suite whilst develop ping our market leading capabilities in new areas of growth.”