HSBC Philippine operations recognized

MANILA, Philippines - The Asset Magazine has named the Hongkong and Shanghai Banking Corp. (HSBC) 2011 Best Sub-Custodian and Best Domestic Custodian in the Philippines. Currently in its eleventh year, the Asset Triple A Transaction Banking Awards is regarded as the benchmark for excellence in the Asian banking industry. HSBC Philippines has won the Best Sub-Custodian award for the Philippine market for five consecutive years since 2006 and the Best Domestic Custodian award for three consecutive years since 2008. HSBC Securities Services also garnered several other awards earlier this year. In February 2011, the Philippine Dealing System (PDS) Group’s Annual Awards granted HSBC Philippines the Top Custody House award for 2010. The award is given by the PDS Group to the custody participant that has the highest total market value of depository holdings for the year. HSBC Philippines has been recognized as the Top Custody House by the PDS Group for three consecutive years since 2008.