HSBC launches UK transfer agency business 29 June 2020Edinburgh Reporter: Maddie Saghir
Image: Victor Moussa/ HSBC/Shutterstock
HSBC Securities Services has launched a UK transfer agency (TA) business, servicing both retail and institutional investors.
The UK TA business will be supported by a new Edinburgh-based operation managing back-office processing and contact centre functions.
HSBC said that its UK TA business leverages existing capabilities across its retail banking and securities services businesses.
Additionally, it adds the UK market to the 12 countries already supported on its global TA platform.
The integration of banking, general ledger and management accounting systems within the TA platform has created significant automation, according to HSBC.
Meanwhile, the introduction of application programming interface has enabled rapid access to data for asset managers and their clients, HSBC noted.
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Image: Victor Moussa/ HSBC/Shutterstock 