HSBC Asset Management appoints Asia Pacific & HK CEO
HSBC Asset Management (HSBC AM) announces that it has appointed Daisy Ho as its new Regional CEO for Asia Pacific & Hong Kong.
Based in Hong Kong, Daisy will join HSBC AM on 8 November and report to CEO Nicolas Moreau.
Daisy has over 20 years’ experience in the asset management industry and joins from Fidelity International, where she was President for China overseeing the firm’s overall China strategy across business, investments, operations and other key functions. Prior to that, she was Managing Director, Asia ex-Japan & Middle East.
Daisy joined Fidelity in 2005 as Head of Relationship Management, Institutional Business, Hong Kong and was later appointed Head of Institutional Business, Asia ex-Japan. Before joining Fidelity, Daisy held senior management roles in the wealth management and asset management divisions of JPMorgan, AXA and Hang Seng Bank.
In her new role, Daisy will be responsible for leading and growing HSBC AM’s business in Asia Pacific by continuing to build on the firm’s strength in Hong Kong, increasing its market share across core markets and expanding its footprint in mainland China, India and ASEAN. Her role will also involve the CEO responsibilities for HSBC AM Hong Kong.
Daisy replaces Pedro Bastos who is moving to a newly created role as CIO International Markets & Asia Strategist. Pedro will work closely with the asset class CIOs and CIOs of the firm’s International Markets, a group of 11 markets managed on a local basis, to support their local investment teams in achieving their objectives. As Asia Strategist, Pedro will contribute to promoting the firm’s global house views and Asia macro and investment views. He will continue to be based in Hong Kong.
Nicolas Moreau, CEO, HSBC Asset Management, commented: “Our business in Asia has seen significant momentum, with AUM growing 11% YoY as at 30 September 2021 and 12% YoY in 2020, driven by strong net flows and positive fund performance. Daisy’s extensive experience and knowledge of the fast-growing markets in Asia Pacific will prove invaluable to fulfilling our ambition of becoming a leading international asset manager in the region and supporting HSBC’s Asia Wealth strategy.”
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers. The firm’s AUM in Asia stands at USD190bn, accounting for 31% of its total AUM of USD619bn as at 30 September 2021.
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HSBC Asset Management
HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 25 countries and territories, delivering global capabilities with local market insight. As at 30 September 2021, HSBC Asset Management managed assets totaling US$619bn on behalf of its clients. For more information, see www.assetmanagement.hsbc.com/uk
HSBC Asset Management is the brand name for the asset management business of HSBC Group, which includes the investment activities provided through our local regulated entity, HSBC Global Asset Management (UK) Limited.
The HSBC Group
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, the Middle East and North Africa. With assets of US$2,969 billion at 30 September 2021, HSBC is one of the world’s largest banking and financial services organisations.
HSBC’s Asian wealth strategy
HSBC’s ambition is to be Asia’s leading wealth manager by 2025, opening up a world of opportunities for Asian, international and HSBC-connected clients, wherever their wealth is created, invested and managed. HSBC is investing heavily in people, technology and products in the next five years, including hiring over 5,000 client-facing wealth roles across the region. As Asia’s leading bank across the wealth continuum of mass affluent to HNW and UHNW clients1, HSBC has a unique ability to serve the full range and progression of wealth needs – from first-time investors through to UHNW individuals, their families and businesses. HSBC will lead in offering a unified international banking and wealth experience by harnessing the Group’s in-house manufacturing strengths in insurance, asset management, private banking, wealth and global markets and delivering the full capabilities of a global universal bank, including HSBC Commercial Banking and Global Banking and Markets, to extend their expertise and enable the Group to attract and deepen wealth relationships among entrepreneurs, business owners, C-suite executives and their employees. With HSBC’s leading expertise and capabilities, strong Asian presence and unrivalled international connectivity, these will bring the best of HSBC to deliver a wealth experience which helps all our customers achieve sustainable prosperity.
1. Source: Asian Private Banker Asia 2020 Wealth Continuum League Table