HSBC Securities Services has been chosen to provide custody services to MetLife across three key markets in Asia, adding more than US$8.7 billion in assets under custody. HSBC will provide a suite of global and domestic custody services covering the US insurer’s business in Australia, Hong Kong and Korea.

“HSBC is delighted to extend its broader banking and custody relationship with MetLife in Asia. We are committed to providing best in class services and solutions to meet MetLife’s needs today and as they grow,” says Cara Brosnan, regional head of insurance sector sales for HSBC Securities Services. “Insurance is an important sector for our Securities Services business and an area where we see great opportunities as the insurance business grows in Asia.”

Headquartered in New York, MetLife provides insurance, annuities, employee benefits and asset management to help its individual and institutional customers.