Change of the guard at HSBC
HSBC Asset ManagementAustralia has undergone a change of the guard with Paul Kasian moving into the chief investment officer (CIO) position, following the resignation of joint chief investment officer Damien Hennessy.
HSBC has intended for some time to dissolve the joint CIO title and streamline the management structure within the investment management division, and Hennessy’s departure gave them the opportunity, anAssirtcompany statement says.
Hennessy, who was previously joint CIO with Kasian, leaves the group to form an independent consultancy business which will be focused on developing investment management tools and processes.
HSBC intends to hire an investment strategist who will be responsible for continuing process refinements within asset allocation, Assirt says.
Under the new management structure, Kasian will be responsible for fixed interest and diversified fund activities. As part of the internal restructure, Alma Gill has been promoted to senior manager, fixed income and David Stuart has been moved to regional chief investment officer, Asia Pacific.
Both Kasian and Stuart have been closely involved in contributing to the Global Investment Strategy Group and translating the global investment strategy into the domestic context and setting the strategy for domestic assets.
Assirt says it is in the final stages of completing its review of HSBC’s investment management capabilities and product range, taking into consideration the recent staff changes within the asset manager’s ranks.
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