Eastspring Investments has appointed HSBC to provide middle office services and support its growth ambitions across multiple Asian markets, including Singapore and Malaysia.

HSBC’s middle office services will be integrated into BlackRock’s Aladdin, a unified investment and risk management platform used by the world’s most sophisticated investors to manage the full investment lifecycle across asset classes. Eastspring has been using Aladdin since 2019.

"This strategic partnership is a crucial component of Eastspring's operational transformation, aimed at optimizing our operating model for improved efficiency, scalability, and most importantly, delivering enhanced value to our clients,” says Eastspring chief operating officer Lilian Tham. "We believe that by leveraging HSBC’s Asian presence and BlackRock’s Aladdin technology, we will further improve our investor experience and outcomes.”

HSBC’s securities services relationship with Eastspring in Asia has spanned two decades and includes global custody and transfer agency.

The bank held US$10.6 trillion of assets as custodian on behalf of investors as of December 31, 2024. Its global custody network covers 96 markets.

Eastspring, the Asia-focused asset management business of British insurer Prudential, manages US$256 billion of assets ( as of  March 31st ) on behalf of institutional and individual clients, across equity, fixed income, multi-asset, quantitative and alternative strategies.