HSBC builds in Singapore 19 April 2011Singapore Reporter: Ben Wilkie
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HSBC in Singapore has consolidated its position as a key service provider to UOB Asset Management Ltd (UOBAM) with the mandate win for trustee services on 12 local unit trust funds.
HSBC Securities Services (HSS) will now provide trustee, valuation and accounting services to these funds.
This takes the total number of UOBAM funds, which HSS services to 48 and underpins a partnership that has been in place for over 15 years.
Tony Lewis, head of HSBC Securities Services, Singapore said: “We are delighted with this vote of confidence from UOBAM. The appointment to provide end-to-end securities services for these funds is testament to the collaborative relationship that we have built over time and an indication of our strength in this market.”
UOBAM is headquartered in Singapore, with regional business and investment offices in Brunei, Japan, Malaysia, Taiwan and Thailand. UOBAM has 25 years of experience in investing in equities and fixed income instruments of regional and global markets.
Bill Chua, United Overseas Bank’s managing director & chief operating officer, Global Markets & Investment Management, commented: “We want to continue to work with service providers that meet the high standards our investors look for in us. HSS has shown their commitment to meeting our needs and they have the reputation and quality of product that drove this selection.”
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