13th May 2005 16:00
HSBC Holdings PLC13 May 2005 HSBC TO ACQUIRE ATLANTIC ADVISORS HSBC Investments (USA) Inc. is to acquire Atlantic Advisors LLC ('TheAtlantic'), a privately held fixed income investment management companyheadquartered in New York City. The transaction is expected to close in thesecond quarter of 2005. The Atlantic is a leading specialist manager of global emerging markets fixedincome products for some of the world's largest corporations as well asinstitutional and individual investors. The core portfolio management team ofPeter Marber, Michael Gagliardi and Denise Simon collectively have more than 50years of experience investing in markets in Asia, Africa, Eastern Europe, LatinAmerica, the Caribbean and the Middle East. At 31 December 2004, The Atlantichad assets under management of over US$700 million. The company has a net assetvalue of US$1,000^. As announced on 4 May 2005, and subject to receiving the necessary legal andregulatory approvals, HSBC is establishing HSBC Halbis Partners, a specialisedinvestment business, into which it intends to integrate The Atlantic in duecourse. Together with other specialist businesses and HSBC Investments, HSBCHalbis Partners will form part of HSBC's Group Investment Businesses which, atDecember 2004, had assets under management of US$224 billion. At December 2004,the HSBC Group as a whole had assets under management of US$476 billion. Chris Cheetham, the prospective global CEO of HSBC Halbis Partners, commented:"This acquisition will significantly enhance HSBC's capabilities and expertisein managing global emerging markets fixed income portfolios. It is the latestaddition to HSBC's fixed income business, headed by Gregg Diliberto, and givesus a team of well known professionals with an impressive track record. "This acquisition also confirms and strengthens our commitment to building HSBCHalbis Partners into a focused 'alpha' business." Peter Marber, president of The Atlantic, said: "We're thrilled to join aninstitution with a great global platform for our specialised products. With thecompany's strong resources and unparalleled commitment to emerging markets, wecouldn't imagine any better partner than HSBC." ^ Figures prepared on the basis of The Atlantic's own accounting policies underUS GAAP. Notes to editors: 1. HSBC Halbis PartnersHSBC is currently seeking legal and regulatory approvals to establish HSBCHalbis Partners in the USA and other jurisdictions. Until HSBC Halbis Partnersis created in the USA, it will be a trading name of HSBC Investments (USA) Inc.HSBC Halbis Partners will be a specialised fundamental active investmentbusiness, focusing on delivering sustainable, value-added performance inselected areas including fixed income, Asian and emerging markets equities,European equities, and some alternative strategies. It will have around 200investment professionals based in London, New York, Paris and Hong Kong. 2. The HSBC GroupHSBC Holdings plc is headquartered in the UK. The HSBC Group serves over 110million customers worldwide from over 9,800 offices in 77 countries andterritories in Europe, the Asia-Pacific region, the Americas, the Middle Eastand Africa. With assets of US$1,277 billion at 31 December 2004, HSBC is one ofthe world's largest banking and financial services organisations. HSBC ismarketed worldwide as 'the world's local bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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