Link partners with HSBC to target Hong Kong market

10 February 2023
| By Laura Dew |
image
image
expand image

Link Group has agreed a strategic partnership with HSBC to bring its Retirement and Superannuation Solutions (RSS) business to the Hong Kong pension market.

The RSS business would work with HSBC to deliver digital administration and value-added services to HSBC’s Occupational Retirement Scheme Ordinance (ORSO) clients.

Finalised on 7 February, it would provide Link Group with a strong position in the Hong Kong pension market, a decision the firm had taken based on its global growth and transformation strategy for RSS.

HSBC was a major player in the Hong Kong pension market with administration of almost 1,780 company retirement schemes

Link currently serviced 38% of all super members in Australia and administered more than 10 million pension accounts worldwide.

Dee McGrath, chief executive of RSS at Link Group, said: “This is an exciting opportunity for Link Group to grow its global footprint as the primary retirement solutions provider for the pension sector. Our partnership with HSBC reinforces our commitment to lead a digital revolution in the Hong Kong retirement market, which will provide a solid foundation to pursue further growth opportunities across Asia”.

Phillip Bretnall, head of global trustee and fiduciary services, Asia Pacific at HSBC, said “By partnering with Link, a global leader in retirement solutions, we will be able to focus on the core competencies of our pensions business, driving deeper value for our customers and investors.

“For our ORSO scheme customers, their day-to-day dealings with us will be enhanced by Link Group’s digital-led solutions and value-added administrative services.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

10 months 1 week ago
Kevin Gorman

Super director remuneration ...

10 months 2 weeks ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

10 months 2 weeks ago

The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members. ...

1 day 13 hours ago

Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award....

2 days 4 hours ago

APRA data shows the CFMEU accounted for 28 per cent of super fund industrial contributions, with the shadow treasurer calling for a prompt investigation into the payments...

3 days 8 hours ago