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Link partners with HSBC to target Hong Kong market
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.”
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
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