HSBC Malta launches €250m International Business Fund

From the left: Andrew Beane, Joyce Grech and Michel Cordina at the announcement. (source: HSBC media)

Last Updated on Saturday, 13 July, 2019 at 10:31 am by Christian Keszthelyi

HSBC Malta has launched its €250m HSBC International Business Fund (HIBF) to spur ongoing economic growth as well as to help connect Maltese businesses to new opportunities, according to a press statement HSBC sent to Business Malta.

“The €250m fund enables investors, traders and businesses to embark on new journeys by connecting them to international opportunities. With offices on the ground in 53 countries and territories, and more than 5,000 relationship managers operating worldwide, HSBC is in a unique position to connect potential customers in new markets, provide local insight through our people on the ground, and offer the financial support for businesses in Malta to expand globally,” Michel Cordina, Executive Director and Head of Business Development, said during the launch event at The Sheer Bastion reflecting the campaign’s sea-faring theme as well as Malta’s rich maritime trade history.

“This Fund is also available to assist international businesses who want to invest in Malta to continue assisting the local economy to grow,” Mr Cordina added. The event was led by HSBC Malta CEO Andrew Beane together with Executive Director and Head of Business Development Michel Cordina, and Head of Commercial Banking Joyce Grech.

HSBC hopes that its global reach and expertise will help approximately 1.5 million business customers — from small businesses to multinationals — unlock their potential. HSBC’s relationship managers are supported by specialists in four fields: Global Trade and Receivables Finance, Global Liquidity and Cash Management, Global Banking, and Insurance and Investments.

Ability to connect

“Today’s economy is global and interconnected and at HSBC we are able to connect Maltese businesses to fast-growing markets around the world. With the launch of our quarter of a billion euro International Business Fund we are ready to support local companies that have the ambition to stretch towards new horizons,” HSBC Malta CEO Andrew Beane said.

“I am delighted that we are launching this Fund as I take up the leadership of HSBC’s Commercial Banking operations. My team and I are looking forward to assisting companies in using HSBC’s capabilities to their best advantage,” added HSBC Malta’s Head of Commercial Banking Joyce Grech.

Joyce Grech was recently appointed Head of Commercial Banking at HSBC Malta, and Gerard Walsh as the bank’s new Chief Risk Officer, subject to regulatory approval. Additionally, HSBC Malta appointed Michel Cordina as Executive Director and as the bank’s first Executive Head of Business Development in May. Michel Cordina was Head of Commercial Business for the past eight years, prior to moving his current position.

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Christian used to be the editor of Business Malta, the predecessor of Malta Business Weekly’s online platform. As an avid journalist and writer, he believes that good content has a great flow that seamlessly guides the reader from the beginning to the end. He knows that words have immense power, and ruthlessly edits his own copy when chasing perfection (although he knows an article is never ready.)