HSBC Aims To Double Asia Prime Brokerage Assets

May 30 2013 | 11:06am ET

HSBC Holdings has big plans for its Asia prime brokerage.

The bank hopes to double the unit's assets over the next year, building on recent growth in the region. HSBC's Asia-Pacific prime finance unit was ranked the region's sixth-largest prime broker over the last 12 months by AsiaHedge, up from eighth a year earlier.

"For everyone, it has been a challenging year," the unit's head, Melvyn Ford, told Bloomberg News. "We definitely announced our arrival. We're trying to pick the clients and partner with clients that really want to be trading counterparts of HSBC."

The bank is already the biggest hedge-fund administrator in the region.

Ford said he aims to reach his goal by taking on several larger clients; "I don't envisage us taking a huge number of new prime clients based in the region; maybe between five and 10 a year." he said.


In Depth

Fund Manager's Disease: Common Symptoms and Proposed Remedies

May 3 2016 | 6:11pm ET

The cadre of 25 research analysts at Murano Systems speaks with more than 150 investors...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...