The new unit aims to raise funds and create offerings in private and sustainable assets which offer flexible capital solutions for both institutional and wealth customers of HSBC AM
HSBC Asset Management (HSBC AM) is set to expand its service and offering for wealthy clients and institutional customers with the launch of a new unit within HSBC Alternatives, the company’s alternatives business.
Known as Capital Solutions Group (CAG), the unit aims to raise funds and create offerings in private and sustainable assets which offer flexible capital solutions for both institutional and wealth customers of HSBC AM.
The bank said that CSG will develop and expand solutions for both issuer and investor clients by leveraging the firm’s existing investment capabilities of indirect alternatives, private credit, venture capital and real assets.
HSBC AM has appointed Borja Azpilicueta to lead the new business unit. He will move to HSBC AM later this year, reporting to HSBC Alternatives CEO Joanna Munro.
Munro said: “The creation of CSG demonstrates the strength and collaboration across HSBC’s business lines to serve our global clients by connecting borrowers and investors.”
Prior to his new to lead CSG, Azpilicueta was global head of HSBC Global Banking’s Private Capital Group.
In June last year, HSBC AM combined all of its existing alternatives capabilities under a single business unit, known as HSBC Alternatives.
The company’s move forms part of its plan to reposition the business as a core solutions provider and specialist in Asia, emerging markets and alternatives asset manager.
In May last year, HSBC unveiled its plans to shut down its US domestic mass-market retail banking business to focus on the banking and wealth management needs of international high-net-worth clients.