UK – SEI Investments has formed a partnership to provide the clients of HSBC Republic, the private banking arm of HSBC, with a manager of managers account programme.
The new service, called Strategic Investment Solutions, will provide private banking clients with externally managed, best of breed multi-manager investment portfolios tailored to individual needs, and will complement HSBC Republic’s expertise in hedge fund investment and management, says SEI. HSBC republc has been implementing an open-architecture strategy for 15 years already.
The programme is available through HSBC Republic in Geneva, Zurich, Hong Kong and Singapore, and will be expanded to the Americas, the UK and Channel Islands, Monaco and Luxembourg in the near future.
SEI was chosen as it offered all the IT and operating capabilities required on a global scale, explained Gabriel Perahia, chief investment officer for the HSBC private banking group.
SEI manages 78 billion dollars in assets, and HSBC Republic has around 194.5 billion dollars in assets under management.