HSBC Global Asset Management appoints two CEOs in Asia

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HSBC Global Asset Management appoints two CEOs in Asia

HSBC's Global Asset Management arm has announced two CEO appointments in its fast-growing SE Asia markets.

HSBC GAM, which has some $510bn in AuM, has confirmed Patrice Conxicoeur as Singapore CEO and head of South-East Asia and Masayuki Kaneko as CEO of HSBC GAM Japan.

Conxicoeur is moving from Tokyo and Kaneko is to be his successor as head of global banking and head of financial institution group.

We will build on our robust credentials supporting institutional and corporate clients, as they focus on managing liquidity, diversification and alternative investments to meet long-term investment goals."

In his new role, Conxicoeur will be charged with expanding HSBC's business in the core markets of Singapore, Vietnam, Malaysia, Indonesia, Thailand and the Philippines.

The two CEOs will report to Pedro Bastos, Asia-Pacific CEO at HSBC GAM. Bastos commented: "We will build on our robust credentials supporting institutional and corporate clients, as they focus on managing liquidity, diversification and alternative investments to meet long-term investment goals."

HSBC is in the midst of a worldwide restructuring following a 33% fall in profits. The bank is moving to reduce its international headcount by 35,000 over the next two years ass part of a renewed focus on its core Asia market, where HSBC generates almost half its revenue and 90% of its profits.

It is unclear who will take over from Noel Quinn, the bank's interim CEO, or whether Quinn will take on the role of CEO permanently. 

The bank's wealth management, private banking and retail divisions are to be merged into a single entity, the bank said.

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Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.