HSBC announces partnership with BlackRock for its Aladdin Wealth platform to boost the wealth management services it offers to client
HSBC has signed a global deal to offer BlackRock’s Aladdin Wealth platform to its private banking clients. Aladdin Wealth is a powerful tool that enhances client portfolio analysis, portfolio construction and risk management capabilities. While Aladdin is well-established among asset managers and institutional investors, its use in private wealth management is more recent and HSBC is one of the first to use it for private clients.
We have been working very closely with BlackRock Solutions over the past 18 months to tailor the platform to the needs of our clients. With Aladdin our advisors can analyse customer portfolios more holistically, in the same way institutional investors do, and evaluate the potential impact of changes to a portfolio before clients make investment decisions.
The rollout has begun for private banking clients in the U.S. and will be followed by other locations. Over time, Aladdin Wealth will become available to our relationship managers and advisors globally.
Commenting on the deal António Simões, Chief Executive Officer, Global Private Banking at HSBC, said:
We are excited and proud to offer the benefits of Aladdin to our clients thanks to our strong partnership with BlackRock. Aladdin will help us take our wealth management services to the next level by allowing us to assess risk in client portfolios in a much more accurate way, enabling even better informed investment conversations and decisions.
Robert Goldstein, Global Chief Operating Officer and Head of BlackRock Solutions, added: “This is an exciting milestone for both organisations and for the broader wealth management industry. With HSBC’s scale and global reach, many more advisors will have access to capabilities previously only available to institutional investors. This will enable better financial outcomes for individual investors around the world.”
For more information please speak to your Relationship Manager or contact us.