NEW YORK--(BUSINESS WIRE)--HSBC Global Private Banking, Americas today announced an agreement with financial technology firm iCapital Network (“iCapital”) to expand and streamline client access to alternative investments. The partnership is part of Global Private Banking’s initiative to enhance investment management capabilities and expand its product offering for high-net-worth clients.
“Clients looking to diversify their portfolios are increasingly interested in alternative investments,” said Russell Schofield-Bezer, Chief Investment Officer, HSBC Global Private Banking, Americas. “Our partnership with iCapital provides our clients with the platform and technology to access a broader product suite and seamlessly integrate alternatives into their investment allocations.”
iCapital will allow HSBC’s qualified clients and their investment counsellors to evaluate and allocate to a broad range of private equity, private credit, and hedge fund investments. The platform offers access to:
- Select fund managers who have previously worked almost entirely with institutional investors;
- A robust set of analytical tools and due diligence information to evaluate the investment merits of a given offering; and
- Online investing at levels well below industry minimums of $5+ million
“We’re pleased that HSBC Global Private Banking has selected iCapital as a technology partner to help their investment counsellors provide clients with streamlined and efficient access to a broad selection of alternative investments,” said Lawrence Calcano, Chief Executive Officer of iCapital Network. “Our mission to democratize alternative investments is providing advisors and their qualified investors with a more complete toolkit as they seek to construct thoughtful portfolios.”
Notes to editors:
HSBC Private Banking
As part of the HSBC Group, one of the world’s largest banking and financial services organizations, HSBC Private Banking seeks to be the leading international private bank for business owners and their families. It provides clients with wealth, business and family succession solutions in the largest and fastest growing markets around the world. HSBC Private Banking is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group. HSBC Private Banking is the marketing name for the private banking business conducted by the principal private banking subsidiaries of the HSBC Group worldwide. In the United States, HSBC Private Banking offers banking services through HSBC Bank USA, N.A. and HSBC Private Bank International, and provides securities and brokerage services through HSBC Securities (USA) Inc. HSBC Bank USA, N.A. - Member FDIC. Investments and certain insurance products, including annuities, are offered by HSBC Securities (USA) Inc. (HSI), member NYSE/FINRA/SIPC. In California, HSI conducts insurance business as HSBC Securities Insurance Services. License #: 0E67746. HSI is an affiliate of HSBC Bank USA, N.A. Whole life, universal life and term life are provided by unaffiliated third parties and are offered through Insurance Agents of HSBC Insurance Agency (USA) Inc., which is a wholly owned subsidiary of HSBC Bank USA, N.A. Products and services may vary by state and are not available in all states. California license # OD36843 For more information, visit www.hsbcprivatebank.com
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Connecticut; Delaware; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.
About iCapital Network
iCapital Network is the financial technology platform democratizing alternative investments with complete tech-based solutions for wealth advisors and asset managers. The firm’s flagship platform offers a curated menu of private equity and hedge funds at lower minimums with a full suite of due diligence and administrative support in a secure digital environment to advisory professionals and their qualified clients. Banks and asset managers leverage iCapital’s tech-enabled services to streamline and scale their private investments operational infrastructure. iCapital was included in the 2018 Forbes FinTech 50 and as of June 30, 2018, serviced more than $6 billion in invested capital across more than 14,000 underlying accounts.