HSBC makes two senior appointments in its asset management arm focused on fixed income assets in the region.

Elizabeth Allen was named head of Asian fixed income at HSBC Global Asset Management, according to a statement, reporting to global fixed income CIO Xavier Baraton and recently appointed APAC CIO Cecilia Chan. 

Allen has more than 25 years of industry experience including the last nine years with HSBC, most recently as the head of APAC credit research in its asset management business. Previously, she also had experience in investment banking and corporate lending at Credit Suisse First Boston and Standard Chartered, respectively. 

Newly Created Role

In addition, the asset manager has also appointed Alfred Mui to be managing director and head of Asian fixed income investment management, reporting to Chan and Allen. In the newly created role, Mui will lead portfolio management activities for the asset class.

Mui has 25 years of industry experience and previously worked for the likes of Myo Capital and UBS. He has spent 17 years with HSBC including, most recently, his role as head of Asian credit.  

Both Allen and Mui’s roles are effective as of February 1 next year.

Asian Expansion

HSBC has been making numerous appointments to position its asset management business to focus on «core products» and »specialist solutions« in emerging markets, Asia and alternatives.  

«Despite the challenging global environment this year, our Asian Fixed Income AUM in the first nine months recorded robust growth,» said Baraton, adding that investment processes and philosophy remain unchanged under the new leadership structure. «As we step into a year of economic restoration, HSBC Global Asset Management is being best placed to maintain our leadership on emerging trends in Asia such as high yield and sustainability.»

In addition to the regional appointments, it has also made changes at the top including the hire of ex-DWS executive Nicolas Moreau in September as its global CEO. It also replaced former U.K. chief executive Andy Clark with Stuart White, in addition to the latter’s existing role as head of strategy.