The new chief executive Sten Ankarcrona, who starts on 1 March, has worked at the company since 2004 as managing director of HSBC Global Asset Management, France in its Stockholm office. In this role he was responsible for first establishing the office and developing institutional, corporate, pension and third-party distribution business in the Nordic region.
Most recently Ankarcrona was head of sovereigns and supranationals, Asia-Pacific, based in Singapore.
Ankarcrona will report functionally to Joanna Munro chief executive for Asia Pacific, HSBC Global Asset Management and locally to Paul Arrowsmith, head of retail banking and wealth management, HSBC Singapore.
Tse is to return to Hong Kong, where he had previously been head of strategic business development for Asia Pacific, to take up a regional business management role within the company.
“Sten brings with him more than 20 years of industry experience which is invaluable to the development of our asset management business in Singapore,” said Munro. “His strong understanding about the sovereign and supranational sector provides him with strong credentials to lead the Singapore office.”
