HSBC Investments (Canada) Ltd. has changed its name to HSBC Global Asset Management (Canada) Ltd., effective June 2.

The name change in Canada is part of the re-naming of the HSBC Group’s investment management businesses around the world. HSBC Global Asset Management is the core global asset management business of the HSBC Group and manages assets of approximately $407 billion as at March 31 for institutional and individual clients around the world. It has a unique multi-boutique asset management structure, which promotes focus and expertise in the various investment disciplines. In Canada, the business provides investment management services to institutional, retail and high net worth private clients and acts as manager of the HSBC Pooled Funds.

Mark McCombe, global chief executive of HSBC Global Asset Management, stated: “We are changing our name to HSBC Global Asset Management because it better reflects the breadth, strength and expertise of our business. It also highlights one of our key competitive advantages, our global footprint, which complements our deep roots in local markets.”

As part of the rebrand, all entities operating as HSBC Investments will adopt the HSBC Global Asset Management name. HSBC Global Asset Management will also encompass the established specialist asset management businesses, namely Halbis Capital Management (active management specialist) and Sinopia Asset Management S.A. (quantitative specialist) and the specialist business units Liquidity (cash management) and Multimanager (best-in-class managers). The ‘multi-specialist’ model developed over the past four years will remain a defining feature of HSBC Global Asset Management.

The specialist businesses and business units will maintain their own identities and brands but will all be clearly endorsed as HSBC Global Asset Management businesses.

Marc Cevey, Chief Executive Officer of HSBC Global Asset Management (Canada) Limited, added: “Our new name truly reflects the comprehensive investment solutions we have been offering to Canadian investors. We will continue to provide the same excellent service that our clients have come to expect at HSBC.”

HSBC Investment Funds (Canada) Inc., a mutual fund dealer and manager of HSBC Mutual Funds, will be unaffected by this change.