hsbc-wins-cma-cgm-mandate

HSBC wins CMA CGM mandate

The bank will provide cash management services in Asia for the worldÆs third largest container shipping company.
HSBC has been appointed to provide cash management services in Asia to CMA CGM, the world's third largest container shipping company, which is headquartered in Marseilles.

The initial scope of the project covers nine countries and territories including China, Hong Kong, Taiwan, Korea, Indonesia, Malaysia, Singapore, Thailand and Vietnam, with Japan and Bangladesh to follow later in 2008.

Prior to awarding their business to HSBC, CMA CGM had been using 21 local banks for cash services. HSBC's solution allows for a single point of contact in France and Hong Kong as well as full visibility across the company's cash positions.

Also included in the solution are liquidity management, collections and payments. The...
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