HSBC develops retirement assets strategy

David Humphreys, the bank''s MPF point man, is now casting his eye at pension opportunities globally.

First MPF, then the world. David Humphreys spent last year as CEO of HSBC Provident Fund Services in Hong Kong where he spearheaded the bank's launch into the Mandatory Provident Fund scheme. The experience required an integrated effort from HSBC's bank, insurance, trust and fund management arms, and convinced him that HSBC Group needed to develop a similarly integrated strategy for capturing retirement assets globally. So now he is responsible for thinking this through.

Within 10 to 15 years, one-third of the OECD countries' population will have retired, he says. Any financial institution with ambitions to be a global player must have a strategy to service that market. It will be one of...

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