HSBC has been awarded a global mandate by Thermo Fisher Scientific, the servicing science company. Thermo Fisher sought to consolidate its global banking relationships in an effort to streamline operations, improve visibility and control, and take advantage of economies of scale.
The deal encompasses cash management, trade services, lending and global markets capabilities across nine markets:
- Hong Kong.
- South Africa.
- New Zealand.
The mandate establishes HSBC as a primary operating bank in these markets, centered on a suite of cash management services, including account services, daily transaction services, liquidity pooling structures, cash investment options and outsourcing services, all of which are managed via HSBCnet.
Global connectivity and on-the-ground local expertise further enhances Thermo Fisher Scientific’s ability to enhance margins on excess funds while providing greater control and oversight for strategic initiatives, enabling the company to more efficiently mobilise excess cash globally and adapt to changes in the market at any time.
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