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HSBC to provide liquidity management services for CLSA

Hong Kong based brokerage and investment group CLSA has appointed HSBC Global Payments and Cash Management, to offer liquidity management services across Asia.

The new service will enable the firm to bridge the gap between its debit and credit positions across businesses, allowing it to reduce borrowing costs considerably.

Additionally, it will enable the firm to utilize its excess cash to offset its group debit position along with better visibility and control over its funds.

Under the agreement, CLSA has implemented a regional structure across nine Asian markets that is based on HSBC’s Global Liquidity Solutions (GLS) platform.

The firm has also been able to centralize and streamline accounts payable management processes, following the installation of HSBC’s Integrated Payables Solution.

The bank has also helped CLSA to modernize and simplify its payment process, by deploying a direct interface between its ERP system and the internet banking platform, HSBCnet.

CLSA manages a team of over 1,500 professionals in 15 Asia-Pacific cities, as well as in London, New York, Boston, Chicago and San Francisco.