HSBC Private Bank in France has created a specialised Advisory Management unit to service its ultra high net worth clients. The new unit is made up of nine people, according to Daniel Roy, the private bank's president in France. The advisory management framework enables the client to access the Investment Advisory Group and a wide variety of products, especially structured products, currency hedging, as well as investment recommendations. These products are generally reserved for experienced investors as they are usually long-term investments with penalty clauses for early redemption. The private bank currently managers around €12.7 billion of assets in France. HSBC Private Bank France intends to focus on financial management, non-benchmarked investment management, traditional and alternative multi-manager investment, financial and wealth diversification. The intention is to anchor Louvre Gestion as the Private Banking business’s main centre of investment proposals, with an open architecture with discretionary management and IAG. It will also maximise synergies with the HSBC Group to capitalise on all of its areas of expertise.