Ayaz Ebrahim has resigned as CEO from HSBC Halbis Partners Asia to join Deutsche Asset Management (DeAM) as CIO for Asia-Pacific and the Middle East, which includes Australia and Japan.

Ebrahim had been at HSBC for over three years, after an 11 year career at Indosuez Asset Management (later rebranded Credit Agricole Asset Management). He joined as CIO of HSBC Asset Management. The firm then reorganised as HSBC Halbis Partners, the active management arm, and HSBC Investments, which runs index-linked strategies, multi-manager mandates and other non-active products, as well as provides marketing and distribution services for both companies. Ebrahim essentially continued his role as the CIO with the title of Asia CEO for Halbis.

ôItÆs been a great place to work and I have no regrets,ö he says, noting that under his tenure, equity assets under management grew from $6 billion to nearly $17 billion.

But the job at DeAM was too good to refuse, giving him a much bigger coverage area, both in terms of geography as well as asset classes. DeAM manages $658 billion worldwide.

The role is a new one. Andrew Fay has run the region out of Sydney as Asia-Pacific CIO as well as served as DeAMÆs Australia country head. The firm decided this was too much for one person, and Fay will now concentrate on running the Australia business, as well as serve as local CIO.

Ebrahim will continue to be based in Hong Kong and report to Ed Peter, CEO of Deutsche Asset Management for Asia-Pacific in Singapore. He will oversee the investment teams in Hong Kong, Singapore, Tokyo and Sydney, as well as DeAMÆs onshore units in Korea, India, the Middle East and in China, where it has a joint venture with Harvest Fund Management in Beijing.

The job includes overseeing DeAMÆs traditional equity and fixed-income investments in Asian and Middle Eastern assets, as well as dual responsibility with New York for Asia-focused alternative investments.

HSBC Halbis is looking for a replacement. Cecilia Chan will continue to run Asian fixed income, while a number of investment directors will share EbrahimÆs responsibilities until a new CEO is found. HSBC officials could not be reached for comment (this news emerged after closing hours yesterday).