HSBC 2008 Annual Report Download - page 142

HSBC HOLDINGS PLC
Report of the Directors: Operating and Financial Review (continued)
Products and services / Other information > FUM / Assets in custody / Property
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• government and non-government fixed income
and money market instruments;
• precious metals and exchange traded futures;
• equity services, including research, sales and
trading for institutional, corporate and private
clients and asset management services;
• distribution of capital markets instruments,
including debt, equity and structured products,
utilising HSBC’s global network; 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.
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 43 countries and territories, with client assets of
US$352 billion at 31 December 2008.
HSBC Private Bank is the principal marketing
name of the HSBC Group’s international private
banking business and utilising the most suitable
products from the marketplace, HSBC Private Bank
works with its clients to offer both traditional and
innovative ways to manage and preserve wealth
while optimising returns. Products and services
offered include:
Private Banking Services: These comprise
multi-currency deposit accounts and fiduciary
deposits, credit and specialist lending, treasury
trading services, cash management, securities
custody and clearing. In addition, HSBC Private
Bank works to ensure its clients have full access to
other products and services available throughout
HSBC, such as credit cards, internet banking,
corporate banking, and investment banking.
Private Wealth Management: These comprise
both advisory and discretionary investment services.
A wide range of investment vehicles is covered,
including bonds, equities, derivatives, options,
futures, structured products, mutual funds and
alternatives (hedge funds, private equity and real
estate). By accessing regional expertise located
within six major advisory centres in Hong Kong,
Singapore, Geneva, New York, Paris and London,
Private Banking seeks to find the most suitable
investments for clients’ needs and investment
strategies. Corporate Finance Solutions helps
provide clients with cross-border solutions for their
companies working with Global Banking & Markets.
Private Wealth Solutions: These comprise
inheritance planning, trustee and other fiduciary
services designed to protect existing wealth and
create tailored structures to preserve wealth for
future generations. Areas of expertise include trusts,
foundation and company administration, charitable
trusts and foundations, insurance, family office
advisory and philanthropy. These are tailored to
meet the individual needs of each family.
Other information
Funds under management
2008 2007
US$bn US$bn
Funds under management
At 1 January ............................... 844 695
Net new money .......................... (1) 36
Value change .............................. (159) 53
Exchange and other .................... 51 60
At 31 December ......................... 735 844