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.
Recommended for you
The Financial Services and Credit Panel has made a written direction after advice regarding non-concessional contributions meant an individual was forced to withdraw over $330,000 from their super.
Merchant Wealth’s David Haintz has described how the firm differs from the traditional private equity ventures jumping into Australia, and why M&A isn’t like Married at First Sight.
ASIC has been granted permission to shut down almost 100 websites running investment scams, with the Federal Court describing how its victims were “fattened like pigs to slaughter”.
An Adelaide-based financial planning and accounting firm is set to merge into Count Adelaide, aligning with Count’s ambitions to form a national footprint of scaled equity partnerships.
