HSBC Global AM appoints Stuart White as int'l CEO
HSBC Global Asset Management has confirmed the appointment of Stuart White as its international CEO.
Based in London, White will have oversight of the bank's market in Saudi Arabia, Turkey, Bermuda and Malta. He will also oversee Hang Seng Investment Management in Hong Kong.
White was appointed HSBC Global AM's head of strategy in 2015.
Stuart has been instrumental in driving the strategic direction for our business. I look forward to continue working with him to ensure that we meet our clients' evolving investment needs and deliver the ambitious growth plans we have set out."
HSBC's global CEO Nicolas Moreau said: "Stuart has been instrumental in driving the strategic direction for our business. I look forward to continue working with him to ensure that we meet our clients' evolving investment needs and deliver the ambitious growth plans we have set out."
White's appointment takes effect immediately, HSBC said. He will report to Moreau.
Last month HSBC Global AM confirmed Patrice Conxicoeur as Singapore CEO and head of South-East Asia and Masayuki Kaneko as CEO of HSBC Global AM Japan.
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.
Last week the UK-based bank appointed Noel Quinn as its permanent chief executive seven months after he assumed the position on an interim basis.
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