However, Chandrasekharan did not take any of the company’s senior management with him out to Asia. The fund management team, including the chief investment officer, are still believed to be based in London.
“HSBC has a significant client franchise in Asia. As a global asset manager, we believe there are opportunities for us to grow our business with our clients and contribute to the evolution of the investment markets,” said Charles Clarke, head of communications for HSBC GAM.
“The global CEO of the asset management business has relocated from London to Hong Kong to directly support this development and will continue to provide oversight across HSBC Global Asset Management’s global operations.”
Pedro Bastos, remains in his position as regional head of Asia Pacfic and chief executive of the Hong Kong operaton following the move, a post he only took up at the end of May.
Since the appointment of Bastos. HSBC GAM has moved to boost its fund distribution and sales drive across Asia. In July it appointed Alison Brown as director and head of sales, Wholesale Business in Hong Kong and China. While Soren Beck-Petersen was made director and head of distribution, Private Banks, Asia Pacific.
Both of these appointments were effective from 30 July.
HSBC Global Asset Management has assets under management of $454bn (3298.1bn, €407.5bn) at the end of December 2014 with operations in Europe, the Asia-Pacific region, North America, Latin America and the Middle East.
