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HSBC Asia Prime-Finance Team Seeks to Double Hedge-Fund Assets

HSBC Holdings Plc, the largest European bank by assets, plans to double its Asia-Pacific prime finance team’s cut of hedge-fund assets in the coming year, said Melvyn Ford, regional head of the business.

It is part of a target to improve its standing by two places to the region’s sixth-largest prime broker over the 12 months, Ford said in an interview in Hong Kong yesterday. HSBC was ranked eighth in its first full year in a survey by trade journal AsiaHedge released this month.