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.