European and Luxembourg markets

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Harvey Newton
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1 Why Luxembourg

2 Contents 1. European and Luxembourg markets Page 3 2. HSBC Group Page 7 3. HSBC in Luxembourg Page 9 4. Asset Management at HSBC in Luxembourg Page Corporate Banking at HSBC in Luxembourg Page Private Banking at HSBC in Luxembourg Page Securities Services at HSBC in Luxembourg Page Key contacts Page 27 2

3 European and Luxembourg markets

4 Why Europe is important for international businesses Very large strategic market More than 500 million consumers 28 European Union (EU) member states comprising a vast single market Free circulation of goods, services and individuals within the EU Major source of knowledge and innovation Second worldwide after the US for the number of high value patents Highly skilled workforce with 1.3 million researchers and scientists 4

5 The advantages of Luxembourg Platform to the European Union and beyond 1 Founding member of the EU Ideal strategic position at the heart of Europe Stable and business friendly political and tax environment Sophisticated but pragmatic legal and regulatory framework International multi-lingual professionals and environment Largest fund centre in Europe and the largest international hub for fund distribution Large range of fund types and structures beyond UCITS Worldwide recognition of the UCITS brand Made in Luxembourg Low country risk Luxembourg: an international hub in the EU Luxembourg offers flexible business models to rapidly achieve a competitive positioning in international markets 1 Source: ALFI (March 2010) 5

The Luxembourg financial sector Largest international wealth management and private banking centre in the eurozone Strong culture of wealth management Over USD400 billion 1 assets under management

6 The Luxembourg financial sector Largest international wealth management and private banking centre in the eurozone Strong culture of wealth management Over USD400 billion 1 assets under management Automatic information exchange from 1st January 2015 Large number of double tax treaties No inheritance tax Leading player in the international bond market with over 30,000 bonds issued in Luxembourg 1 Source: ABBL (June 2013 figures) Largest investment fund centre in Europe (# 2 globally) Strong investor protection Over USD3 trillion 2 in assets Market leader in product innovation for UCITS and non-ucits funds including alternative funds Luxembourg funds distributed significantly in all parts of the world - Europe, North America, Asia, Latin America and the Middle East 2 Source: ALFI (April 2013 figures) 6

7 In the future, there will be no markets left waiting to emerge. The future starts here. Be part of it. HSBC Group

HSBC Group One of the largest and strongest banking and financial services organisations Founded in 1865 Over 50 million customers Profit before tax USD20.

8 HSBC Group One of the largest and strongest banking and financial services organisations Founded in 1865 Over 50 million customers Profit before tax USD20.6 billion (2012) 1 Listed in London, Hong Kong, New York, Paris, and Bermuda Credit rating: A+ (S&P), Aa3 (Moody's) and AA- (Fitch) Core Tier 1 capital ratio: 12.3% (31 December 2012) World s Most Valuable Banking Brand 2012 (BrandFinance Banking 500 index 2012) Unique network connecting developed and faster growing markets Leading bank for international Chinese Renminbi currency services Our reach is truly global: we operate from 80 countries and territories across Europe, Asia Pacific, the Americas, the Middle East and Africa 1 Source: HSBC Holdings plc, Annual Report and Accounts

9 HSBC in Luxembourg International financial services and solutions for wealthy individuals, institutions and corporate clients

10 HSBC in Luxembourg Over 35 years of local experience Highly complementary business lines 4 main activities: Asset Management, Corporate Banking, Private Banking and Securities Services Joined up in 2010 to further leverage our strengths Ambitious growth plans for international business Internationally minded and connected Several hundred staff comprising 30 nationalities with 25 languages Expertise in emerging markets from the heart of Europe Highly complementary business lines that are globally connected and internationally minded 10

HSBC in Luxembourg at a glance Asset Management Corporate Banking Private Banking Securities Services Expertise Large scale global UCITS funds

funds, private equity funds, specialised investment funds Client base Worldwide individual and institutional investors International corporate

and institutional investors Main services Management company Payments and cash management Treasury services Private banking services Insurance

11 HSBC in Luxembourg at a glance Asset Management Corporate Banking Private Banking Securities Services Expertise Large scale global UCITS funds Globally connected seamless banking services Complete range of private wealth solutions UCITS Alternative funds - hedge funds, funds of hedge funds, private equity funds, specialised investment funds Client base Worldwide individual and institutional investors International corporate clients and non-bank financial institutions High and ultra high net worth individuals, family offices, and external asset managers Asset managers and institutional investors Main services Management company Payments and cash management Treasury services Private banking services Insurance brokerage Discretionary and advisory investment management Global custody Fund administration Related services including treasury and middle office Transfer Agency 11

12 Asset Management at HSBC Aiming to be the leading asset manager for HSBC s clients

HSBC Global Asset Management Led by our beliefs, anchored to our values We are the asset management division of the HSBC Group, dedicated to managing assets for institutions and individuals worldwide

13 HSBC Global Asset Management Led by our beliefs, anchored to our values We are the asset management division of the HSBC Group, dedicated to managing assets for institutions and individuals worldwide Our investment philosophy demonstrates clarity and focus, discipline and application and high standards of investment governance, integrity and longevity of client relationships Strong global investment platform supports local investment teams Experienced investment teams focused on specific strategies Local presence provides valuable insight and analysis Global platform supports cross border communication Objective of generating competitive performance Risk management focus A focused range of developed and emerging market investment strategies Active equity, fixed income and multi-asset Index and enhanced equity and fixed income Liquidity and low duration Recognised leader in emerging markets Global, regional and country capabilities Domestic and offshore offerings On the ground investment expertise Our Beliefs We believe: In connecting clients with opportunities In doing the right thing for our clients In long and successful client relationships Being part of the HSBC Group brings strengths that benefit our clients Statistics (as of 31 March 2013) USD428.0 billion under management USD153.6 billion emerging markets assets under management ~2,000 employees ~500 investment professionals Locations in more than 20 countries/territories 13

14 Our Asset Management services in Luxembourg Present in Luxembourg since 1988 A significant management company within the HSBC Group Leveraging the strengths of HSBC Global Asset Management and the HSBC Group Managing one of the most widely registered funds in Luxembourg; registered for sale in over 40 countries HSBC Global Investment Funds is our principal SICAV with assets under management of USD30 billion 1 Assets under 1 Figures as at end May 2013 Strengthening the fund strategy of HSBC Global Asset Management Luxembourg is a well regarded domicile for international funds management: over USD38 billion 1 Fully UCITS IV compliant New products regularly added to our fund ranges 1 Figures as at end May

15 Corporate Banking at HSBC Helping businesses grow internationally

16 HSBC Global Corporate Banking Our global reach and expertise helps customers unlock their potential; from small businesses to large multinationals 140 years experience meeting the transaction banking needs of corporate clients Present in over 60 countries and territories 8,000 dedicated Relationship Managers and Business Specialists to service global customers locally No matter what your business needs, we have an extensive range of products and services that can help Investments, payments and cash management, liquidity management as well as hedging and financing of international transactions local expertise for your global transactions HSBC s online banking platform is specifically designed for companies operating internationally Our accolades Best Global Cash Management Bank for Financial Institutions and Corporates (Euromoney 2012) 16

Our Corporate Banking services in Luxembourg Leveraging HSBC s

cash management services Foreign exchange Meeting local and global

commitment Internet banking platform (HSBCnet) Wherever you have

Luxembourg Cash Management High value payments Low value payments

Exchange Balance and Transaction reporting Real time account

17 Our Corporate Banking services in Luxembourg Leveraging HSBC s leading international bank connections and offering Payments and cash management services Foreign exchange Meeting local and global banking needs Experienced local team with a high degree of personal commitment Internet banking platform (HSBCnet) Wherever you have Internet Access Over 4,000 international companies are present in Luxembourg Cash Management High value payments Low value payments Inter-account transfers SEPA Global Markets Money Market Foreign Exchange Balance and Transaction reporting Real time account information Standard reports Customised reports Automated file delivery Wherever we are 17

Urgent Incoming electronic payments including: Urgent Non-urgent/ACH Overdraft facilities 1 Treasury Products HSBCnet internet banking

18 Our Corporate Banking services in Luxembourg Payments & Cash Management solutions at a glance Investment Products Payments Collections Liquidity Management Channels Current accounts and Term deposits (in local and foreign currency) Electronic payments including: Local Urgent Incoming electronic payments including: Urgent Non-urgent/ACH Overdraft facilities 1 Treasury Products HSBCnet internet banking platform Resident and nonresident accounts Multi-currency Multi-currency SEPA 1 Overdraft facilities are subject to a credit assessment 18

19 Private Banking at HSBC Building on our commercial banking heritage to be a leading Private Bank for business owners

HSBC Global Private Banking One of the largest international private banks 80 offices in 36 countries Assets under management USD517 billion (as at 31 December 2012) Placing our clients at the centre

20 HSBC Global Private Banking One of the largest international private banks 80 offices in 36 countries Assets under management USD517 billion (as at 31 December 2012) Placing our clients at the centre of everything we do Private banking services Advisory and discretionary wealth management services Private wealth solutions to preserve and pass on wealth to future generations HSBC has over 225 years of experience in providing private banking services Global accolades Best Specialised Services for Entrepreneurs and Corporate Executives Best Lending/financing solutions Best Islamic banking services Best Real Estate investment 1 Source: Euromoney

HSBC Global Private Banking Our competitive range of services HSBC private banking provides integrated banking, investment services and wealth solutions Banking Services Investment Services Wealth

21 HSBC Global Private Banking Our competitive range of services HSBC private banking provides integrated banking, investment services and wealth solutions Banking Services Investment Services Wealth Solutions Deposit Accounts Cash Management Credit and Specialised Lending Securities Custody and Clearing Treasury Trading Services Discretionary Wealth Management Services Alternative Investments Investment Advisory External Funds Tactical Advice Corporate Finance Solutions Trust and Estate Planning Family Office Advisory Philanthropy Services Financial Planning Insurance Advisory and Brokerage Some of the services listed are only available from certain locations or are subject to restrictions. Please speak to your Relationship Manager for more information 21

22 Our Private Banking services in Luxembourg Present in Luxembourg since 1977 Drawing on the strength of the HSBC Group Full suite of private banking products and services Leveraging the HSBC global network to create connections and opportunities Luxembourg focuses on the EU and clients from other countries where Luxembourg products offer advantages Providing instant access to Europe and beyond Free movement of capital Unique structures and vehicles for protecting and growing wealth Dedicated multilingual and multicultural staff based in the heart of Europe 22

23 Securities Services at HSBC Connecting clients to global growth opportunities

24 HSBC Global Securities Services One of the world's leading providers of securities and fund services Custodian network in 93 markets (42 of which are HSBC entities) Over 100 years experience in the fund services business Strong balance sheet to provide long term stability and support your counterparty exposure management requirements Diverse and full range of products focusing on client needs Fund accounting and valuation, global custody and transfer agency through to securities lending, foreign exchange, cash management, and middle office services Supporting diverse investment strategies (long only and alternative); responsive to client needs while delivering long-term value Depth and breadth of service to both onshore and offshore funds Capability to service sophisticated strategies from high volume OTC to statistical arbitrage Global assets under custody: USD6 trillion 1 Global accolades European Administrator of the Year Funds Europe Awards Most Innovative Investment Bank of the Year The Banker magazine (Financial Times Group) Most Innovative Investment Bank for Foreign Exchange, for Inflation Products and for Risk Management - The Banker magazine (Financial Times Group) 1 Figures as at 31 December

HSBC Global Securities Services Key facts and figures Products and services Multi-channel servicing: insurers, asset managers, banks, brokers, sovereign wealth funds Middle office Collateral

0 trillion assets under custody USD1.3 trillion assets under administration 11,901 funds under administration Sub-custody network in 93 markets, of which 42 markets are proprietary USD1.

25 HSBC Global Securities Services Key facts and figures Products and services Multi-channel servicing: insurers, asset managers, banks, brokers, sovereign wealth funds Middle office Collateral management Fund accounting, including periodic statutory and life reporting Transfer agency Treasury and passive hedging Credit Custody Trustee and depository 7,274 employees in 42 countries USD6.0 trillion assets under custody USD1.3 trillion assets under administration 11,901 funds under administration Sub-custody network in 93 markets, of which 42 markets are proprietary USD1.4 trillion assets for Corporate Trust and Loan Agency services That translate to One of the largest and most experienced securities services providers globally Largest Trustee Globally Highest credit rated custodian among its peer group globally 2nd largest proprietary sub-custody network Top tier Institutional and Hedge fund administrator with full service offering Leading Insurance and Asset Management service provider All figures as at 31 December 2012 Our Securities Services business represents an important activity for the Group, offering high-quality, valued services to core Group customers and underpinning other Group businesses such as Global Markets, Asset Management and Private Banking, where securities services are required. Douglas Flint, HSBC Group Chairman (2012) 25

Our Securities Services offering in Luxembourg Present in Luxembourg since 1987 Providing services which benefit from the Luxembourg

funds Access to: Assistance in fund establishment Fund Accounting & Administration Global Custody Transfer Agency Services Corporate

execution Foreign exchange Securities lending Financing & Credit Cash management Compliance monitoring HSBC Prime Services Risk Management

26 Our Securities Services offering in Luxembourg Present in Luxembourg since 1987 Providing services which benefit from the Luxembourg advantage Proven structures for global distribution Expertise in supporting traditional and alternative funds Serving onshore and offshore funds Access to: Assistance in fund establishment Fund Accounting & Administration Global Custody Transfer Agency Services Corporate Secretarial Services Tailor made solutions Services Sub-Custody and Clearing Corporate Trust and Loan Agency Performance analytics Equity execution Foreign exchange Securities lending Financing & Credit Cash management Compliance monitoring HSBC Prime Services Risk Management Middle Office Services Funds under administration: over USD30 billion 1 CLIENT SICAV UCITS SIF FCP Offshore Funds SICAR Products 1 Figures as at end May

Avranches, L-1160 Luxembourg Tel.: +352 40 46 46 454 Email: lu.info@lu.

Avranches, L-1160 Luxembourg Tel.: +352 47 93 31 320 Email: lu.info@lu.

Luxembourg For more information: Asset Management: Richard Long Email:

quintens@lu.hsbc.com Private Banking: Katie Danby Email: katie.

27 Contacts Nigel H. Fielding Country Chief Executive Officer HSBC 16, boulevard d Avranches, L-1160 Luxembourg Tel.: lu.info@lu.hsbc.com Mylène Ribouleau Communications Manager HSBC 16, boulevard d Avranches, L-1160 Luxembourg Tel.: lu.info@lu.hsbc.com Dairy House building 16 boulevard d Avranches L-1160 Luxembourg For more information: Asset Management: Richard Long richard.long@hsbc.com Corporate Banking: Koen Quintens koen1.quintens@lu.hsbc.com Private Banking: Katie Danby katie.danby@hsbcpb.com Securities Services: Brenda Petsche brendapetsche@lu.hsbc.com Daidalos building 8 rue Lou Hemmer L-1748 Luxembourg - Findel 27

28 Disclaimer HSBC has issued this document for information purposes only. This presentation is for the exclusive use of its recipients and shall not be copied or reproduced in any electronic or physical form or distributed, communicated or disclosed in whole or in part by such recipients to another person nor should any person act on it. The contents of this document are not and should not be construed as an offer to sell any investment, financial instrument or service. Furthermore, this document does not constitute the solicitation of an offer to purchase or subscribe for any investment, financial instrument or service in any jurisdiction where, or from any person in respect of whom, such a solicitation of an offer is unlawful. HSBC has based this document on information obtained from sources it believes to be reliable but which it has not in every case independently verified. While this information has been prepared in good faith, no representation or warranty, express or implied, is or will be made and no responsibility or liability is or will be accepted by HSBC in Luxembourg or the HSBC Group or by any of their respective officers, employees or agents as to or in relation to the accuracy or completeness of this document. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of HSBC, 16 boulevard d Avranches, L-1160 Luxembourg. Issued July

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