By Ivan Anderzhanov in Moscow
The world's biggest bank HSBC is joining forces with Allianz Rosno Asset Management by offering its wealthy clients access to the Russian firm's mutual fund and life insurance products.
The partnership is an extension of the existing collaboration between HSBC and Allianz in the CIS. The two global finance leaders already have already been cooperating in Kazakhstan for more than 2 years.
Stuart Lawson, chief executive of HSBC in Russia. said in a statement: “This marks the start of our collaboration with Allianz Group in Russia, and we look forward to extending this initiative to other products and services in the near future.”
Oleg Mazurov, chief executive of Allianz ROSNO Asset Management, added: “Partnerships with major international banks are a key element of our strategy, and in 2010 they will lead to a substantial increase in our sales volumes. Our cooperation with HSBC will play a major role in driving this growth.”
Stocks in the mutual funds of Allianz ROSNO Asset Management (Allianz ROSNO Stocks, Allianz ROSNO Primary Industries, Allianz ROSNO Non-Primary Industries, Allianz ROSNO Second Tier Stocks, Allianz ROSNO Balanced and Allianz ROSNO Bonds) will be sold via HSBC branches.
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