Hang Seng Unit to Merge with HSBC’s Asset Unit

Hang Seng unit to merge with HSBC’s asset unit

HONG KONG — HSBC will merge Hang Seng Bank’s asset management unit into its fund business, two people with direct knowledge of the matter said on Monday, after the London-based bank took the Hong Kong lender private in a $13.6-billion deal.

Hang Seng investment arm to merge with HSBC's asset business, sources say

HSBC Plans to Combine Hang Seng’s Investment Arm With Its $876 Billion Asset Management Business

HSBC is planning to integrate Hang Seng Bank’s asset management unit into HSBC Asset Management, according to two people familiar with the matter. The proposed move would combine businesses overseeing approximately $926 billion in assets and represent the first integration of business lines between the two banks.

Hang Seng investment arm to merge with HSBC’s asset business: sources

HSBC makes the bulk of its profits in Asia Read more at The Business Times.

HSBC to merge Hang Seng asset business, sources say

HSBC to merge Hang Seng investment arm with asset business, sources say Read more at straitstimes.com.

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HSBC will fold Hang Seng Investment Management, which has about $50bn in assets, into HSBC Asset Management, which manages about $876bn, according to two people with direct knowledge of the matter. It would be the first business-line integration between the two banks since HSBC took Hang Seng privat... Article link