HSBC Division Agrees to Manage Allianz’s Pension Fund in Turkey
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HSBC Holding Plc’s Turkish asset manager said it agreed to manage Allianz SE’s Istanbul-based pension fund.
HSBC Portfoy Yonetimi AS will be managing 3 billion liras ($1.85 billion) of assets including 500 million liras from the premiums collected by Allianz’s life insurer in Turkey, HSBC Portfoy Chief Executive Officer Namik Aksel said in a telephone interview today.