{"id":35841,"date":"2013-05-30T11:34:32","date_gmt":"2013-05-30T15:34:32","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=35841"},"modified":"2013-05-30T11:34:32","modified_gmt":"2013-05-30T15:34:32","slug":"hsbc-asia-prime-finance-team-seeks-to-double-hedge-fund-assets","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2013\/hsbc-asia-prime-finance-team-seeks-to-double-hedge-fund-assets.html","title":{"rendered":"HSBC Asia Prime-Finance Team Seeks to Double Hedge-Fund Assets"},"content":{"rendered":"<p>HSBC Holdings Plc (HSBA), the largest European bank by assets, plans to double its Asia-Pacific prime finance team\u2019s cut of hedge-fund assets in the coming year, said Melvyn Ford, regional head of the business.<br \/>\nIt is part of a target to improve its standing by two places to the region\u2019s sixth-largest prime broker over the 12 months, Ford said in an interview in Hong Kong yesterday. HSBC was ranked eighth in its first full year in a survey by trade journal AsiaHedge released this month.<\/p>\n<p>HSBC was a late entrant to the Asia-Pacific prime brokerage market dominated by the likes of Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG. Banks are competing for regional hedge-fund assets that slipped 1 percent to $139 billion in 2012 after the closures of those unable to cope with falling revenue and rising costs that cut the number of funds by 5 percent, according to AsiaHedge.<\/p>\n<p>\u201cFor everyone, it has been a challenging year,\u201d said Ford. \u201cWe definitely announced our arrival. We\u2019re trying to pick the clients and partner with clients that really want to be trading counterparts of HSBC.\u201d<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2013-05-30\/hsbc-asia-prime-finance-team-seeks-to-double-hedge-fund-assets.html\">Read Complete Story<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HSBC Holdings Plc (HSBA), the largest European bank by assets, plans to double its Asia-Pacific prime finance team\u2019s cut of hedge-fund assets in the coming year, said Melvyn Ford, regional head of the business. It is part of a target [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-35841","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=35841"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35841\/revisions"}],"predecessor-version":[{"id":35846,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/35841\/revisions\/35846"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=35841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=35841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=35841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}