HSBC Securities Services (HSS) has been appointed to be the single service provider to Schroder Investment Management Singapore for its trustee, custody and fund administration services.
The mandate contains 15 Singapore unit trusts with assets in excess of SG$ 1 billion ($700 million). With this appointment, Schroders consolidates its entire trustee, custody and fund administration services with one provider, previously splitting its trusts between HSBC and the Oversea-Chinese Banking Corporation
John Van Verre, Head of HSS, Singapore said: “We are pleased with this vote of confidence from Schroders to consolidate all their fund services with HSS. This mandate reinforces our leading position in the Singapore securities services market as a strategic partner to fund managers.”
“Before this appointment, HSS was already providing trustee, custody and fund administration services for some of our Singapore funds as well as trustee services for our Hong Kong funds. Consolidating the services under HSS gives us better service leverage and control not just locally but also regionally,” said Lilian Tham, Asia Pacific Head of Operations & IT, Schroders.