Aladdin is BlackRock’s end-to-end investment management and operations technology that combines sophisticated risk analytics with portfolio management, trading and operations tools on a single, unified platform.
Integrating HSBC’s middle office, custody and fund administration services with Aladdin will help clients access real-time data, streamline their workflows, reduce their manual processes and improve their operational efficiencies, for an enhanced user experience.
In the first half of 2021, HSBC will begin rolling out its Securities Services’ offering on Aladdin to clients globally, starting in Hong Kong and Singapore.
HSBC currently administers USD500bn of assets for 20 global asset managers who already use Aladdin.
Sebastien Danloy, Global Head of Asset Owners & Managers, Securities Services, HSBC, said: “We are delighted to enter into this agreement with BlackRock as we continue to enhance our market-leading middle-office, fund administration and global custody capabilities. Joining the Aladdin Provider network adds to our existing capabilities to connect to our clients’ front-office platforms and to offer front-to-back solutions in an open architecture environment to the asset management community.”
Sudhir Nair, Head of the Aladdin Business, said: “Working with firms like HSBC, we are bringing innovation to asset servicing by transforming the traditional operating model and delivering the efficiency and convenience our mutual clients have come to expect. What we’re doing today with HSBC, I believe will become the industry standard, and we’re proud to partner with them on this effort.”
HBSC has a longstanding relationship with BlackRock as fund administrator for its Asian ETFs and, last year, became the first bank to offer the benefits of Aladdin Wealth, BlackRock’s portfolio and risk management platform for wealth managers, to high net worth customers around the world.
HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,956bn at 30 September 2020, HSBC is one of the world’s largest banking and financial services organisations.