HSBC 2005 Annual Report Download - page 16

HSBC HOLDINGS PLC
Description of Business (continued)
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• equity services, including research, sales and
trading for institutional, corporate and private
clients and asset management services,
including global investment advisory and fund
management services; and
• distribution of capital markets instruments,
including debt, equity and structured products,
utilising links with HSBC’s global networks.
Corporate and Investment Banking
Global Investment Banking comprises:
• capital raising, both publicly and privately,
including debt and equity capital, structured
finance and syndicated finance;
• corporate finance and advisory services for
mergers and acquisitions, asset disposals, stock
exchange listings, privatisations and capital
restructurings; and
• project and export finance services providing
non-recourse finance to exporters, importers and
financial institutions, and working closely with
all major export credit agencies.
Corporate and Institutional Banking includes:
• direct lending, including structured finance for
complex investment facilities;
• leasing finance with an emphasis on ‘large
ticket’ transactions; and
• deposit-taking.
Global Transaction Banking includes international,
regional and ‘in-country’ payments and cash
management services; trade services, particularly the
specialised ‘supply chain’ product; and securities
services, where HSBC is one of the world’s leading
custodians providing custody and clearing services
and funds administration to both domestic and cross-
border investors. Factoring and banknotes services
are also provided by specialist units.
Private Equity comprises HSBC’s captive private
equity fund management activities, strategic
relationships with certain third party private equity
managers together with direct listed and unlisted
equity investments and fund commitments.
Group Investment Businesses
These comprise asset management products and
services for institutional investors, intermediaries
and individual investors and their advisers.
Management structure
During February 2006, the management structure of
Global Markets and Corporate and Investment
Banking was restructured. Under the new structure,
there are three principal business lines: Global
Banking, Global Markets and Global Transaction
Banking. This new structure will allow Corporate,
Investment Banking and Markets to focus on the
relationships and sectors that best fit the Group’s
footprint and ensure seamless delivery of HSBC’s
enhanced product capabilities to clients.
Private Banking
HSBC’s presence in all the major wealth-creating
regions has enabled it to build one of the world’s
leading private banking groups, providing financial
services to high net worth individuals and their
families in 74 locations in 35 countries, with total
assets under management of US$282 billion at
31 December 2005. HSBC Private Bank is the
principal marketing name of the HSBC Group’s
international private banking business which,
together with HSBC Guyerzeller and HSBC
Trinkaus & Burkhardt, provides private banking
services.
Utilising the most suitable products from the
marketplace, Private Banking works with its clients
to offer both traditional and innovative ways to
manage and preserve wealth whilst optimising
returns. Products and services offered include:
Investment services: These comprise both
advisory and discretionary investment services. A
wide range of investment vehicles is covered,
including bonds, equities, derivatives, options,
futures, structured products and alternative products,
mutual funds, hedge funds and fund of funds.
Supported by six major advisory centres in Hong
Kong, Singapore, Geneva, New York, Paris and
London, Private Banking seeks to select the most
suitable investments for clients’ needs and
investment strategies.
Global wealth solutions: These comprise
inheritance planning, trustee and other fiduciary
services designed to protect existing wealth and
create tailored structures to preserve wealth for
future generations. Areas of expertise include trusts,
foundation and company administration, charitable
trusts and foundations, insurance and offshore
structures.
Specialist advisory services: Private Banking
offers expertise in several specialist areas of wealth
management including tax advisory and financial
planning, family office advisory, corporate finance,