Local HSBC unit named best GS dealer for ‘12

MANILA, Philippines - With its continuing support on the country’s capital markets, HSBC Manila has been cited by the Department of Finance as the Best Performing Government Securities Eligible Dealer for 2012.

The award was also a testament to HSBC’s franchise strength in the Philippines and recognized the British bank’s invaluable support in the development of the local capital markets and the National Government’s funding program.

HSBC has been very active not only in the Philippines but also in Asia.

Recently, HSBC Global Payments and Cash Management has been appointed to provide liquidity management services to CLSA Asia-Pacific Market’s operations across Asia.

“With the increasing intensity of focus by corporations and institutions on the optimization and use of internal liquidity, visibility and control over their cash is becoming a top priority. We are therefore pleased to be able to deliver to CLSA an innovative set of liquidity solutions to address their specific needs and improve their liquidity and working capital management in the Philippines and across Asia,” said Mimi Concha, senior vice president and head of commercial banking for HSBC Philippines.

CLSA operates a number of entities across different markets in Asia, with a central borrowing entity at a group office level in Hong Kong, its global headquarters.

HSBC has also assisted CLSA in streamlining and simplifying its payment process and has installed a direct interface between CLSA’s ERP system and HSBC’s Internet banking platform, HSBCnet.

HSBC also recently expanded its global liquidity solutions platform to Japan and Australia.

The platform delivers stronger, richer and more flexible functionality that integrates and complements the existing domestic and cross-border liquidity services in all locations where HSBC operates.