HSBC’s Securities Services, which handles custody and clearing activities for HSBC Group in 34 countries, including Malta, now has $800 billion under custody. The importance of HSBC’s Securities Services role in Malta has the potential to increase significantly in the near future as it will seek to act as custodian for HSBC Bank Malta and other pension providers’ private pension products. These are expected to be introduced shortly after the enactment of legislation reforming Malta’s pensions system.

“HSBC’s Securities Services operates across the world, in Europe, the Americas, Asia and the Middle East. It is the backbone of our custody and clearing services for funds, wealth management, trusts and loans. It provides valuable support, both in terms of services and advice, for treasury departments in individual countries where HSBC operates. HSBC Malta is already tapping in to the resources available from this Group wide organisation and this will help us to ensure that we provide the appropriate supporting services to pension products when these are introduced in Malta,” said HSBC’s head of treasury, Charles J Farrugia.