The world's local bank
HSBC Bank (Cayman) Limited is a class A licensed bank regulated by the Cayman Islands Monetary Authority which carries out fund administration, captive insurance management, corporate trust and private trust services. In 2007, HSBC announced plans to expand its offering in the Cayman Islands with the anticipated roll out of additional services in corporate banking and personal financial services.
In April 2008, HSBC Bank (Cayman) Limited launched its corporate banking service and in October, HSBC Group's Global Premier Banking service.
HSBC Bank (Cayman) Limited is staffed by highly trained and experienced employees who reflect the Bank's commitment to the education and training of its entire staff. Approximately 70 per cent of HSBC Cayman's employees are Caymanian, significantly above the country's average of 49 per cent.
Customer groups
Corporate Banking (CMB) serves the needs of the Bank's corporate clients by offering a full suite of services to both domestic companies and multinational corporations. Corporate Banking provides a wide range of banking and financial services, which includes everything from transaction banking and working capital facilities to specialised corporate risk management.
Supported by a knowledgeable staff of relationship managers and specialist teams dedicated to such sectors as captive insurance, Corporate Banking's main focus is to work in partnership with the Bank's corporate clients. Whatever the nature of the enterprise, CMB is committed to serving the needs of this key segment.
Corporate Banking also services HSBC Cayman's largest international corporate clients. Working closely with Group offices overseas, Corporate Banking meets the product and service needs of the largest and most sophisticated institutional clients by combining Cayman-based, global relationship management with worldwide access to risk capital and financial solutions
Personal Financial Services (PFS) serves the diverse financial services needs of HSBC Bank's Personal customers (i.e. their banking, insurance and investment needs).
With the launch of Premier Banking Service in October 2008, HSBC Cayman began the first phase of the introduction of HSBC Personal Financial Services to the Cayman Islands.
HSBC Premier provides a comprehensive and competitive product range, individual Relationship Management and the global experience and expertise of the HSBC Group.
Customers include Cayman Islands residents (both Caymanians and foreign nationals), part-time residents, career expatriates and individuals doing business abroad or traveling frequently.
HSBC Cayman's Premier customers are warmly welcomed in its high quality Premier Centre and are provided with top quality service and tailored solutions, strongly focused on using remote communication channels (Internet, ATM's and 24/7 Call Centre Support). This unique proposition significantly distinguishes HSBC Cayman from other Banks.
HSBC Insurance Management is a leading manager of captive insurance companies in the Cayman Islands, with over 110 captives currently under management.
The principal reasons for our foremost position as a captive insurance manager include:
- The confidence that comes from working with a member of HSBC Group.
- A strong reputation for providing an efficient, professional, friendly and cost-effective service, with a high percentage of business coming from referrals by existing clients and their professional advisers.
- Our extensive experience, as a result of being involved in the management of captives for over 20 years and working with a broad range of insurable risks and products, including Casualty, Credit Life, General Liability, Healthcare, Products Liability, Professional Liability, Workers Compensation and Catastrophe Bonds.
- Our continuing financial independence from any major insurance broker in the U.S. insurance market, while enjoying excellent relations with a large network of brokers.
- The flexibility that comes from our being part of the HSBC Group and also from our local Banking and Trust experience.
- We provide a wide range of captive management services, which can be adapted to suit individual client's needs, including:
- Assistance with preparation of a feasibility study
- Preparation of the license application
- Registration and incorporation of the captive
- Preparation of accounts and any other required financial analyses
- Supervision of audit completion
- Arrangement of Board meetings and meeting materials
- Day-to-day correspondence with regulators and all other service providers
- Maintenance of corporate and statutory records
- Provision of banking and custodial facilities
Fiduciary Services offers a wide range of private trust and corporate trust services, which can be adapted to suit individual client's needs, including:
- Set up and administration of personal trusts
- Provision of trustee services
- Incorporation of ordinary and exempted companies
- Establishing limited and exempted limited partnerships
- Provision of registered office and corporate officers for Special Purpose Vehicles
- Maintaining corporate records, accounts and preparing financial statements
- Making all necessary filings required by law with local authorities and agencies
