U.K. Asset Manager Extends Outsourcing Partnership With HSBC

Royal London Asset Management (RLAM) has extended its outsourcing relationship with HSBC for a further 10-year term.
By Janet Du Chenne(59204)
Royal London Asset Management (RLAM) has extended its outsourcing relationship with HSBC for a further 10-year term.

HSBC has provided custody, fiduciary and outsourced investment administration services to RLAM, one of the UK’s leading asset managers, since 2006.

RLAM was established in 1988 and is part of the Royal London Group, the U.K. mutual life and pensions company with over £73bn of assets under management.

Royal London is a flagship client for HSBC and the renewal of the existing services mandate, combined with the servicing of additional assets following Royal London’s acquisition of the Co-operative Insurance, further strengthens this partnership and demonstrates HSBC’s on-going commitment to deliver scalable, industry-leading solutions for its clients.

Richard James, chief operating officer of Royal London Asset Management says: “Royal London has enjoyed a successful relationship with HSBC since our decision to outsource Investment operations activity in 2006. Our decision to renew was based on high quality of service delivery, HSBC’s commitment to support for our growth agenda, a culture of continuous improvement, and a strong organizational alignment”.

Arjun Bambawale, head of Europe, HSBC Securities Services says: “This strategic deal further strengthens HSBC’s position as a core securities services provider to Royal London, the Insurance sector and the global Asset Management industry.”

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