HSBC Securities Services (HSS) says it reached the US$1 trillion milestone for overall assets under fund administration on 30 September 2006.
“By leveraging the HSBC global brand and footprint, we have grown the business across all the major markets and have become one of the largest hedge fund administrators through our alternative fund administration services,” says Tim Howell, who recently succeeded John Gubert as Head of HSBC Securities Services.
Assets under administration at HSS have grown by 134 per cent since March 2004. During that same period, the business has expanded operations, opening new offices in Italy, Bahrain, Kazakhstan, Philippines, Sri Lanka and Thailand.