HSBC expands into super sector with AIST

HSBC Australia and the Australian Institute of Superannuation Trustees (AIST) have forged a partnership to facilitate the bank’s further expansion into the Australian superannuation sector.

This comes as HSBC, the largest sub-custodian in Australia with over $1.6 trillion in assets under custody, seeks to grow its service offering to Australian super funds across securities, FX, real assets and asset management.

Now one of AIST’s major partners, the partnership will foster collaboration between the association and the bank to inform members of “key industry trends and insights that can assist with international mandates”.

“Australian super funds’ increasing focus on offshore investment is absolutely the right strategic decision for their members given the project size of AUM by the end of the decade,” Nick Wheeler, Head of Markets and Securities Services for Australia and New Zealand at HSBC, said.

“Our knowledge of global markets combined with our suite of solutions including global asset management, securities services and access to public and private investments means we’re uniquely placed to assist asset owners and managers on their investments decisions and we believe AIST is the ideal partner and platform to deliver this insight to the industry.”

AIST chief executive, Eva Scheerlinck, said the organisation was please to form a partnership with an institution of “the calibre of HSBC”, especially during a time of ongoing change in the Australian superannuation industry.

“We appreciate the support provided and value added for our member funds across the profit-to-member sector by our partners, particularly by HSBC with its global reach, broad service offering and expertise in offshore markets at a time when our member funds are increasing their global investments,” she said.