HSBC China the most successful FX and treasury bank

HSBC’s expertise in FX and Treasury has been recognised in the annual Survey of Foreign Banks in China, by PricewaterhouseCoopers (PwC). Senior management and CEO’s from a total of 42 foreign financial institutions operating in China were interviewed by PwC to identify which banks were most successful across different areas. This is the third year the survey has been held and the first year that FX and Treasury was included. Jin Kok Teoh, Head of Global Payments and Cash Management, China, said, "With the increasing volatility in the foreign exchange (forex) market, companies are now paying greater attention to managing their forex exposures. To meet these challenges, our team works closely with our in-house economic analysts to observe, analyse and evaluate trends on international interest rate, fixed income, and foreign exchange markets. Based on this specialised knowledge, we are able to devise concrete strategies for our clients, to assist them in hedging their commercial business transactions and balance sheet items. We are thrilled to be recognised by other banks as the leading provider of FX and Treasury services in China.” According to PwC, FX and Treasury will remain a key focus for foreign banks operating in China in the coming years. --www.theasianbanker.com (July 30 2008)--

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