HSBC scores cash mandate from retailer Liz Claiborne

The new mandate has HSBC providing an integrated cash management and trade service to help consolidate and simplify liquidity for Liz Claiborne.
HSBC has won a mandate from Liz Claiborne to provide cash management services across Asia-Pacific for the retail design and marketing company.

The global bank says it will provide a range of services including standardisation and optimisation of cash management across Asia-Pacific to: help reduce both direct and indirect costs; enable efficient use and allocation of funds across regions; efficient payment instruments; and a platform to support the client's merger and growth goals across Asia.

Richard Jaggard, head of sales, global payments and cash management, Asia-Pacific HSBC, says: "In the current market environment, short-term funding is relatively expensive and will be more so with the increased cost of credit. Therefore by concentrating short-term borrowing and surpluses with one bank it will enable a company like Liz Claiborne to manage their funds more efficiently, leading to reduced interest expense and/or increased interest income."

The mandate win formed part of a global restructure which also saw the consolidation of regional operations into the company's Hong Kong office.

Liz Claiborne designs and markets a global portfolio of retail-based premium brands including Kate Spade, Juicy Couture and Mexx.
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