Friday, 21 October 2016
Last updated 32 min ago
Jan 3 2007 | 10:29am ET
HSBC Private Bank has changed the name of its subsidiary HSBC Republic Investments to HSBC Alternative Investments effective immediately. The change in name reflects the bank’s focus on alternative investments.
Since the acquisition of Republic National Bank of New York in 1999, HSBC Private Bank client assets invested in alternative investments have grown to $35 billion as of the end of September, said Jamie Murray, head of institutional sales and business development, in an interview with Hedgeweek.
During the same period the firm’s flagship fund of funds, HSBC GH Fund, has grown from $145 million to $1.93 billion as of the end of November 2006. Institutional investors now represent approximately 60% of the private bank’s overall client base, according to Murray.