Shaun Wallis, HSBC’s chief executive officer, recently announced the restructuring of HSBC’s fund management business in Malta. HSBC Fund Management has provided both investment management and fund administration services. The latter business activity will now be undertaken by a separate and autonomous company – HSBC Securities Services (Malta) Ltd.

Mr Wallis said: “This restructuring exercise will enable both companies to focus on their core competencies: HSBC Fund Management will now concentrate on maximising investment returns to its customers and launching innovative products that meet the needs of Maltese investors. HSBC Securities Services will, in turn, provide a full range of services in connection with fund administration, including fund accounting, processing of investor records, compliance reporting and corporate secretarial services.”

Both HSBC Fund Management and HSBC Securities Services will be relocated to Valletta thus HSBC can now provide a high level of service for institutional business, be it banking, custody, investment management or fund administration, from a one stop shop.

Mr Wallis stated that HSBC Fund Management and HSBC Securities Services will be headed by Stephen Pandolfino and Charles Azzopardi respectively, who both have a wealth of experience in investment management and servicing of institutional clients.