HSBC Said to End Administration Ties With Some Hedge Funds
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HSBC Holdings Plc, the administrator of $150 billion in assets for hedge funds, is terminating agreements with some smaller Asian clients to focus on more profitable ones, said three people with knowledge of the matter.
One of the termination notices, reviewed by Bloomberg News, outlined when the bank will stop providing its services. The letter didn’t give a reason for HSBC’s decision.