HSBC GAM names China and Asean institutional heads

The fund house has poached Bin Han from Credit Suisse amid a raft of recent hires to its institutional and wholesale teams across Hong Kong and Singapore.
HSBC GAM names China and Asean institutional heads

HSBC Global Asset Management has brought in new heads of institutional business for China and Southeast Asia — Bin Han and Valerie Ang, respectively — alongside several hires in private bank and wholesale sales, AsianInvestor can reveal.

Han became China head of institutional business in in March, replacing Mark Li, who joined Singapore's Fullerton Fund Management in February to head its new Shanghai-based unit.

Han will cover the China offshore market for HSBC Global AM, in a bid to build relationships with key clients and maximise AUM and revenue opportunities, said a spokesman by email. Based in Hong Kong, he reports to Asia-Pacific chief executive Pedro Bastos. 

Han had most recently served as a director in the private funds team focusing on China sales at Credit Suisse, and before that as China head of distribution. Before joining the Swiss firm, he worked for Fidelity Worldwide Investments and research firm Morningstar. 

Credit Suisse did not respond to requests for comment. 

 Valerie Ang

Meanwhile, Ang came in as head of institutional for Southeast Asia in January, replacing James Ong. The latter moved to State Street Global Investors in December as Southeast Asia head of relationship management, as reported.

Ang had previously been head of institutional sales and client service at Havenport Asset Management, a Singapore-based firm specialising in Asia-Pacific equities. Havenport could not be reached immediately for comment by press time.

She spent some six years there and before that nearly nine years with US fund group Legg Mason (including time at its affiliate, Batterymarch), according to her LinkedIn page. 

Retail business expansion

HSBC Global AM, which had $413 billion in AUM as of end-2016, has also added two associate directors on the retail side in Singapore: Dennis Ng last month in private banking sales and Grace Shu in May for wholesale business.

Ng was previously sales director for Singapore and Southeast Asia at Investec Asset Management, while Shu was assistant vice president in fund distribution for private and retail banks at Allianz Global Investors in Hong Kong, according to their LinkedIn pages. Investec and AllianzGI could did respond immeditely to queries.

Ng and Shu have taken up newly created roles at HSBC, a spokesman said, as the firm is putting a big focus on ramping up its retail business in Southeast Asia.

The region presents enormous business opportunities and plays a significant role in the development of the firm’s asset management business in Asia, said Puneet Chaddha, chief executive of Singapore and head of southeast Asia, to whom Ang, Ng and Shu report.

HSBC Global AM is also understood to have made two further hires in Hong Kong, with Jasmine Hung joining as associate director for private bank sales and Sara Lam arriving in March as a sales representative. HSBC could not confirm these appointments by press time.

Hung was previously director of institutional sales at Hong Kong fund house Value Partners, which has undergone a leadership shakeup this year, as first reported by AsianInvestor. The firm confirmed her departure but declined to comment further.

Lam was previously in sales support at Henderson Global Investors, according to her LinkedIn page.

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