Mubasher: HSBC, a leading global banking and financial services holding company, has launched its onshore issuer services business in the UAE and Egypt, the Gulf Daily News reported.
The issuer services business, which is part of HSBC Securities Services, will enable corporates and institutions within the two countries to implement complex transactions by providing a number of services.
These services include “operational and administrative support for bond and loan programmes, escrow services for merger and acquisition (M&A) transactions, as well as agency and account bank services for structured debt issuance,” the Bahraini newspaper highlighted.
Moreover, HSBC has appointed Pankaj Kaul, who was previously part of London’s issuer services team, as the regional head of issuer services for the Middle East, North Africa, and Turkey (MENAT), reporting to the MENAT head of HSBC Securities Services.
“In today’s market, there is a strong desire to minimise counterparty risk and to obtain assurance that assets are secured, which is why we have responded by launching onshore issuer services in the region,” Pankaj Kaul said.
“With our deep roots in the region and global network, we are ideally placed to act as a trusted third-party custodian, enabling clients to complete their transactions as quickly and efficiently as possible,” he added.
Following the recent addition of the UAE and Egypt, HSBC’s issuer services business is operational in 15 countries.
HSBC plans to launch its issuer services business in Bahrain, Oman, Kuwait, and Qatar to extend its presence in the region.
