Hong Leong Bank (the Bank) today officially launched HL Markets, its rebranded Treasury Division, and its new state-of-the art Dealing Room.
On 1 July 2005, the Banks Treasury Division renamed itself HL Markets, a new name that summarizes the Banks focus on meeting the financial needs of both our corporate and retail customers. HL Markets was conceived to complement the relocation of the KL Treasury team to an all-new, state-of-the-art Dealing Room, specifically designed to expand the scope of coverage and offered services. Located on Level 6 of Wisma Hong Leong, Kuala Lumpur, the new 7,003 sq.feet Dealing Room took some 2 months pre-planning and another 1½ months for construction.
The launch of the new Dealing Room and HL Markets is concrete evidence of the Banks ongoing transformation plan, and a significant component to our collective response to the growing competition and industry liberalization the banking sector is now faced with. The evolution of our Treasury Division into HL Markets and the setting-up of the new Dealing Room is indeed another big step in further cementing the Banks global aspirations, says Ms Yvonne Chia, Hong Leong Banks Group Managing Director, in her speech during the launching ceremony.
In line with the Banks long-term commitment towards helping Bank Negara Malaysia to further develop the domestic financial markets while delivering world-class services and solutions to our customers, we have upgraded to the Murex 2000 Treasury operating platform, thus making the Bank, the first local commercial bank to embrace what is already an industry standard among international banks. The Bank also upgraded the Dealing Rooms telephony systems to the BT ITS Netrix system featuring Voice over Internet Protocol capabilities, a first in Malaysia, added Ms Chia.
Prior to our relocation to Level 6, we reorganized our existing human resource to better fit this new technological mould. HL Markets is now divided into 3 sections, namely Sales, Trading and Front Office Management, including our very own dedicated Fixed Income and Economic Research team, said Mr. P.S. Tam, Hong Leong Banks Global Head of Treasury.
Our Sales and Trading teams work hand-in-hand to offer customers competitively priced solutions in foreign currency, fixed income, money markets and structured products. Our Fixed Income and Economic Research team regularly issues publications and daily reports on the pulse of the regional and domestic financial markets, he added. HL Markets centers in Singapore and Hong Kong are being upgraded to match KLs capabilities, enabling them to deliver real-time rates and information to our clients across the region.
Press Release - 22/9/2005