HSBC Securities Services operations in Sri Lanka to grow

Sri Lanka’s importance as a knowledge hub and source of talent for the finance and accounting industries was underlined recently in a meeting between HSBC, the Sri Lankan Association of Software and Services Companies (SLASSCOM), the Chartered Institute of Management Accountants (CIMA) and the Association of Chartered Certified Accountants (ACCA).

Together, these organisations are determined to raise awareness of the opportunities in Sri Lanka for new graduates and also to professionals who have moved away to further their careers but who now want to return home.  

“The traditional image of large companies off-shoring simple processing work does not hold true for Sri Lanka,” HSBC Securities Services (HSS) Global Head Cian Burke commented.

“For HSBC, The GSC in Colombo is a real success story. HSBC group service centre was set up in Colombo in 2004 and HSS operations was established in the centre in 2008 with 26 employees, today we employ 550 people and we expect to grow further.  

“Our team here deals with complex, high-end fund administration and accounting so we aim to attract high quality accounting graduates and qualified professionals who want to help us develop our business.  In return, we will provide continued professional development and the exciting career opportunities that come with working for a global company,” Burke added.

SLASSCOM Executive Director Imran Furkan said that several companies have moved away from data entry work as they recognise the talent pool that exists, “Sri Lanka is positioning itself as a niche market with unique talent in the finance and accounting industry. HSBC has demonstrated its commitment to developing talent and is offering fantastic opportunities to students and qualified professionals who want to develop their careers in Sri Lanka.”

SLASSCOM acts as the catalyst of growth for the Sri Lankan IT and BPO industry by facilitating trade and business, propagation of education and employment, encouragement of research and innovation, and by supporting the creation of a progressive national policy framework.

As part of one of the world’s leading international banks, HSS operates one of the largest securities services networks in the world and has assets under administration of US$ 2.5 trillion. The Bank’s custody network covers 88 countries and territories, 39 of which are serviced by HSBC entities. HSBC hold assets of more than US$ 5.4 trillion under custody.

HSBC was the first securities services provider in Asia. The bank remains as an established leader in both the Middle East and North Africa and Asia. Their strong presence at a local level is complemented by global connectivity.

As part of one of the most strongly capitalised banks in the world, HSBC continue to innovate and expand, delivering targeted solutions to drive your business forward, today and in the future.