HSBC Asset management has recruited Ayaz Ebrahim and Husan Pai, both from Credit Agricole. Ebrahim will assume the role of director and chief investment officer equities, Asia ex-Japan, while Pai will be the new director of equities investment. Both moves will take effect on January 1, 2003. Ebrahim will report to Paul Chow, chief executive officer, Hong Kong and to the global chief investment officer.

Ebrahim joins from Credit Agricole Asset Management where he has been chief investment officer since 1997. Prior to his 11 years there, Ebrahim was an investment analyst at Hoare Govett and Barclays De Zoete Wedd. At Credit Agricole he has ultimate responsibility for investment strategy.

Husan joins HSBC after eight years with Credit Agricole, where he was director of investment. Prior to this he was with AIG Investment for three years. At Credit Agricole he is responsible for managing institutional Asian regional mandates and global balanced retirement fund.