HSBC custody arm nabs State Street exec for new China role
31 July 2014
Category: News, Asia, China, Global, Hong Kong
By Asia Asset Management
HSBC Securities Services (HSBC SS), the custodian arm of the UK-based banking giant, has appointed Elaine Liu as its new head of product strategy in China.
Ms. Liu joins from State Street Global Services (SSgS) in Hong Kong, where she was head of client relationship, China business development.
In this newly-created role at HSBC SS, she will be responsible for defining overall product strategy and capitalising on opportunities in China. She will also design and maintain business operating models, and work closely with regulatory bodies in and outside of China.
Ms. Liu will be based in Hong Kong, and report to Ian Stephenson, global head of fund services, HSBC SS.
"China presents huge opportunities for investors as the country continues to liberalise its capital market, witnessed by the development of its investment schemes for offshore investors including the recent expansion of RQFII to France, Germany and South Korea,” Mr. Stephenson commented.
“HSBC SS has been actively supporting its clients to capture these opportunities and this appointment is a further demonstration of our commitment to supporting its clients' strategies as they relate to growth opportunities both inside and outside of China," he added.
Prior to her stint at SSgS, Ms. Liu worked at BNY Mellon, where she set up the fund accounting and administration services for Alternative Investment Services in Hong Kong. She has also held roles at BNY Mellon subsidiary Ivy Asset Management and PricewaterhouseCoopers.
She holds an MBA degree specialising in finance from Long Island University and a Bachelor of Business Administration degree in accountancy from Baruch College of City University of New York.