HSBC Bank of Bermuda

Global fund services

HSBC Bank of Bermuda has provided services to international investors for nearly 50 years. Widely recognised as a leading international banking and trust group, the Bank offers in-depth knowledge and experience in all areas of fund servicing and custody. The Bank adds value to client relationships through its commitment to the investment management industry and its focus on professional support and technology.

Client base

The Global Fund Services client base is diverse, representing institutional funds, hedge funds, fund of funds, private equity funds, retail funds, venture capital groups, international pension schemes and other financial institutions.

Office locations

To accommodate this wide variety of clients, the Bank maintains GFS offices in locations such as New York, Hong Kong, London and many offshore locations such as Bermuda, the Cayman Islands and the Channel Islands.

Setting up funds

Each client’s requirements are assessed at the inception of the relationship, allocating to that client the staff best equipped to handle their individual needs. Initial questions will include:

What is the investment strategy?
To whom will the fund be marketed?
What is the structure of the fund?
What is the intended domicile?
Will the fund be listed on an exchange?
How many shareholders will there be?

Operational activities

Detailed service standards ensure the best client service standards from initial advice and customised investment decisions to reporting on performance. As far as clients are concerned, this will include the following main areas:

Cash management and execution of trades
Formal compliance reviews
Valuation and accounting
Settlement and reporting of transactions
Shareholder services (subscriptions/redemptions/dividends)

Regulatory environment

The Bank of Bermuda is supervised by the Bermuda Monetary Authority, the regulatory powers of which are determined by statute. The international offices of the Bank are subject to local regulations in their own jurisdictions, as well as the Bank’s internal and external auditors.

Source: Global Fund Services: Partnering People & Business