HONGKONG and Shanghai Bank is probably better known as a conventional retail and commercial banking giant than a treasury operation but the image, at least, is about to change. The group is bringing all its money market and derivatives businesses under the umbrella of the HSBC Markets brand, a move it hopes will boost its profile in treasury operations including derivatives. ''In a sense, now, we are all things to all people. People can contact one unit of HSBC Markets rather than having to go around the world to see who does what,'' said Stuart Gulliver, head of treasury and capital markets of HSBC Markets. The new name will cover all the HSBC group's treasury operations; the bank's, Wardley's, Midland Global Markets, Trinkhaus and Burkhardt and Samuel Montague. The entity formerly known as Carroll McEntee and McGinley becomes HSBC Securities under the HSBC Markets' umbrella. ''It makes a big difference because it is clearly a more unified approach. Putting this branding out simplifies the market story. How we are perceived by our customers is first and most important,'' Mr Gulliver said. Mr Gulliver will continue to be head of treasury at Midland Global Markets in Tokyo and he will commute between Hong Kong and Tokyo while both operations settle down. In the long run, he expected to spend about 20 per cent of his time in Japan. ''We have a very close relationship with Midland Global Markets, which is valuable in terms of product innovation.'' When it moves to a 28,000-square-foot space on the 16th floor of the bank's headquarters from the eighth floor, the group's dealing room will have an initial capacity of 150 staff with the potential to expand to 250. The bank is presenting a united front on the likely benefits of the new structure. ''As a treasury operation, we are much stronger than we were previously. I think clients prefer having it under one roof,'' said Paul Stickland, manager derivatives marketing of corporate banking. The dramatic rise in interest rates since the beginning of the year has led to greater demand for the group's hedging services. And, like other derivatives marketers, HSBC Markets holds seminars which draw in more corporate customers. Mr Stickland said most of the swaps the group offered were ''fairly straightforward'' three-to five-year swaps tailored to clients' amortising requirements. Andrew Fung, manager of, swaps and trading, said the new HSBC Markets' structure would maximise the relative strengths of Wardley and Hongkong Bank. ''We form a formidable force because we cover all the liability-driven market and investor-driven market in the same premises. Before, Wardley focused more on the investor side and Hongkong Bank on the liability. ''Now, we are in a much more competitive position in derivatives because we are on both sides [both borrowers looking to protect themselves against rising rates and investors looking to take advantage of rising rates] and there is no need to come back to the professional market to manage risk.'' For clients, one of the main advantages is expected to be greater clarity. Cindy Chan, deputy head of bond sales, said: ''The merger makes it a lot better. It eliminates the confusion to customers. Because we are a big group, if we market ourselves under different names, clients get confused about who we really are. ''Now, at the first meeting, they are dealing with HSBC Markets. It is more unified. It definitely helps me as a salesperson.'' Mr Gulliver said the group expected a better flow of information through the dealing room under the new structure. ''When we go up to level 16, on the one trading floor, we will have all the debt, fixed income, forex, interest-rate trading, sales and derivatives thereof all on the one floor . . . everything from debt origination to spot dollar-mark. ''Our experience of putting everything on one floor in London, New York and Tokyo shows you really get a flow of information leading to enhanced profits for the bank and better information, services and profit for customers.''