HSBC Private Bank has agreed a new strategic partnership with 25 fund management and Exchange-Treaded Fund groups, to improve its coverage for very wealthy clients.
Under the new partnership, the private bank will work with the unnamed fund groups in constructing tailored investment solutions that would be exclusively available to its clients.
The bank said that the move will enhance its existing «open architecture» approach that is used to offer clients access to funds from other third parties. It also said selecting strategic partners was just the start, not the end of the process.
The latest move forms part of a wider program that aims to support the company’s growth through better co-ordination across asset classes. The initiative included the establishment of a new global product team in London, supported by local product specialists.
