Admin Re has appointed HSBC Securities Services to provide global custody and investment accounting services.
Part of HSBC’s global banking and markets business, HSBC Securities Services will service about £16 billion in policyholder assets under management in the UK.
Admin Re is a closed-book consolidator of life and pensions policies. A large part of the HSBC team for Admin Re will be based in Scotland.
Carl Andrews, head of HSBC Securities Services in Scotland, said: “We are delighted to have been appointed by Admin Re and look forward to building a fulfilling and successful partnership.”
Mike Woodcock, global financial controller for Admin Re, added: “We expect HSBC to help Admin Re provide even better service to our customers to meet their evolving needs.”
