HSBC Private Banking has formed strategic alliances with 25 fund management and ETF firms.
The arrangement is designed to help HSBC develop deeper relationships with fund providers and offer 'more consistent' investment services for its high net worth and ultra high net worth clients around the world.
The private bank plans to work with the so far unnamed 25 strategic partners to offer bespoke and exclusive solutions for its clients.
It also provides the opportunity for the bank to engage with leading specialists to ensure more consistent availability of each manager’s fund range across HSBC Private Banking’s markets.
Between them, the strategic partners’ funds will offer access to a full range of different asset classes, geographies and styles. HSBC will continue to provide clients access to funds from other third parties, as a part of its broader ‘open architecture’ approach.
HSBC Private Banking global head of investment products, Jean-Christophe Gerard, said: 'We went through a rigorous exercise to identify the fund management houses we want to work with more closely, and between them they are well-positioned to meet our client’s complex needs.'
He added the selection of the strategic partners was just the start, not the end of the process.
'We are looking forward to working with our partners to offer our clients bespoke investment opportunities as their needs evolve, exclusive access to funds and more opportunities to engage with fund managers and understand their investment approach.'