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HSBC Securities wins Ascalon custody mandate
HSBC Securities Services (HSS) has won a mandate to provide custody and administration services for boutique funds manager, Ascalon Capital Managers in Australia, as the manager looks to consolidate its custody and fund administration services with one provider.
“We are delighted to win this mandate to become Ascalon’s sole securities services provider,” said Andrew Bastow, head of Securities Services, Australia.
“The strength of our offering in the Australian securities services market lies in our ability to offer securities custody and hedge fund administration on a seamless global basis and we look forward to putting this to use for Ascalon and its clients in Australia.”
Ascalon Capital Managers chief executive Andrew Landman said that Ascalon had grown significantly over the past 12 months, in terms of funds under management and with a number of new managers.
“Today’s announcement allows us to consolidate the operational side of our business to one global provider, and will result in greater synergies and better delivery to our customers,” Landman said.
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