hsbc-wins-fonterra-brands-cash-mandate

HSBC wins Fonterra Brands cash mandate

The mandate from the New Zealand dairy products company covers nine countries in Asia and the Middle East.
HSBC has won the cash management business of Fonterra Brands Asia, a leading global manufacturer and marketer of dairy products based in New Zealand.

The regional mandate covers nine countries in Asia and the Middle East where Fonterra sells its main brands, the bank says.

The win is a new mandate, and was awarded following a 12-month consultancy review, exclusive to HSBC, of FonterraÆs current and future cash management requirements.

As part of the integrated cash management solution prepared for Fonterra, HSBC will process the majority of the payments and receivables through the companyÆs shared service centre SSC in Hamilton, New Zealand. This will significantly reduce the number of banks and systems interfaces previously...
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