HSBC Trinkaus & Burkhardt KGaA has been selected by Essen-based Karstadt Hypothekenbank to administer Euros 400 million in assets from its depot bank and custody business. HSBC Trinkaus & Burkhardt saw assets under custody climb from Euros 103 billion from Euros 76.3 billion in the year to end 2005.
HSBC’s Dsseldorf-based subsidiary started its depot bank business in 1969 and in 2005 processed 31 million securities transactions.
The expansion of HSBC Trinkaus & Burkhardt’s custody services business was kick-started in 2005 by the appointment of industry veterans Gina Slotosch and Daniel Brueckner. Slotosch joined last year as director of business development for HSBC Securities Services, Germany. She has 20 years of experience in the banking industry, having held similar positions in Frankfurt and London with The Bank of New York, Deutsche Bank and State Street Bank. Daniel joined the custody services team as assistant director in September 2005 after serving seven years at State Street and Deutsche Bank.
“Gina Slotosch has helped position the business, while providing clients with a high level of service,” says Carola Grfin von Schmettow, managing partner, HSBC Trinkaus & Burkhardt.