HSBC 2009 Annual Report Download - page 149

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and clearing services and funds administration
to both domestic and cross-border investors.
Global Banking
HSBC’s operations in Global Banking consist of
financing, advisory and transaction services for
corporations, institutional and private investors,
financial institutions, and governments and their
agencies. Products include:
• financing and capital markets, which comprises
capital raising, including debt and equity capital,
corporate finance and advisory services,
bilateral and syndicated lending, leveraged and
acquisition finance, structured and project
finance, lease finance, and non-retail deposit-
taking;
• international, regional and domestic payments
and cash management services; and
• other transaction services, including trade
services, factoring and banknotes.
Global Asset Management
HSBC’s operations in asset management consist of
products and services for institutional investors,
intermediaries and individual investors and their
advisers.
Principal Investments
This includes private equity, which comprises
HSBC’s captive private equity funds, strategic
relationships with third-party private equity
managers and other investments.
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 private
banking and trustee services to high net worth
individuals and their families from over 90 locations
in 42 countries and territories, with client assets of
US$367 billion at 31 December 2009.
HSBC Private Bank is the principal marketing
name of the HSBC Group’s international private
banking business. Utilising the most suitable
products from the marketplace, HSBC Private Bank
works with its clients to offer both traditional and
innovative ways to manage and preserve wealth
while optimising returns. Products and services
offered include:
Private Banking Services: These comprise
multi-currency deposit accounts and fiduciary
deposits, credit and specialist lending, treasury
trading services, cash management, securities
custody and clearing. In addition, HSBC Private
Bank works to ensure that its clients have full access
to other products and services available throughout
HSBC such as credit cards, internet banking,
corporate banking, and investment banking.
Private Wealth Management: This comprises
both advisory and discretionary investment services.
A wide range of investment vehicles is covered,
including bonds, equities, derivatives, options,
futures, structured products, mutual funds and
alternatives (hedge funds, private equity and real
estate). By accessing regional expertise in six major
advisory centres in Hong Kong, Singapore, Geneva,
New York, Paris and London, Private Banking seeks
to identify the most suitable investments for clients’
needs and investment strategies. Corporate Finance
Solutions helps provide clients with cross-border
solutions for their companies, working in
conjunction with Global Banking & Markets.
Private Wealth Solutions: These comprise
inheritance planning, trustee and other fiduciary
services designed to protect wealth and preserve it
for future generations through structures tailored to
meet the individual needs of each family. Areas of
expertise include trusts, foundation and company
administration, charitable trusts and foundations,
insurance, family office advisory and philanthropy.
Other information
Funds under management
2009 2008
US$bn US$bn
Funds under management
At 1 January ............................... 735 844
Net new money .......................... 36 (1)
Value change ............................. 76 (159)
Exchange and other .................... 10 51
At 31 December ......................... 857 735
At 31 December
2009 2008
US$bn US$bn
Funds under management by
business
Global Asset Management ......... 423 370
Private Banking ......................... 251 219
Affiliates .................................... 3 2
Other .......................................... 180 144
857 735
Funds under management at 31 December 2009
were US$857 billion, an increase of 17 per cent
when compared with 2008. Both Global Asset
Management and Private Banking fund holdings