HSBC Securities Services has been appointed global custodian and fund administrator for Vergent Asset Management, a London-based frontier equity markets investor.
Vergent was recently launched in conjunction with Connor, Clark & Lunn Financial Group (CC&L Financial Group), Canada’s largest independent asset manager whose affiliated investment teams collectively manage over $58 billion of assets.
By using HSBC, Vergent and CC&L Financial Group will be able to leverage the bank’s expertise in administering differentiated funds.
HSBC’s global sub-custody and trading footprint also brings direct access to many of the frontier and new emerging markets in which Vergent will invest.
HSBC Securities Services has emerged as one of the most-used sub-custodians for Asian and Middle East frontier markets, as well as being the largest service provider in Saudi Arabia.