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RLAM renews HSBC outsourcing mandate
14 April 2014
The custody bank will provide services for a further 10-year term
Royal London Asset Management
Royal London Asset Management (RLAM) and HSBC have agreed to
extend their outsourcing relationship for 10 more years.
HSBC has provided custody, fiduciary and outsourced investment
administration services to the firm since 2006.
Richard James, chief operating officer of Royal London Asset
Management, said: "Royal London has enjoyed a successful
relationship with HSBC since our decision to outsource
Investment operations activity in 2006.
"Our decision to renew was based on high quality of service
delivery, HSBC's commitment to support for our growth agenda, a
culture of continuous improvement, and a strong organisational
Arjun Bambawale, head of Europe, HSBC Securities Services,
commented: "We are delighted that Royal London has chosen to
extend its relationship with HSBC. This strategic deal further
strengthens HSBC's position as a core securities services
provider to Royal London, the insurance sector and the global
asset management industry."
RLAM was established in 1988 and is part of the Royal London
Group, the UK's largest mutual life and pensions company with
over £73bn ($122bn) of assets under management.