HSBC Global Asset Management has poached an executive from BNP Paribas Asset Management to take up the role of head of China and Hong Kong equities, a well-placed source has told AsianInvestor.

Caroline Yu Maurer will start with the British firm in September to replace Mandy Chan, who moved on in December, AsianInvestor understands.

Caroline Yu Maurer

Both an HSBC spokeswoman and Yu declined to confirm or comment on the move.

Hong Kong-based Yu was head of Greater China equities at BNP Paribas AM, which is promoting portfolio manager David Choa to replace her as of tomorrow (July 1).

Based in Hong Kong, he reports to Frédéric Surry, deputy head of fundamental active equities.

Choa has been with BNP Paribas AM since 2012 and manages a team of four investment professionals and analysts based out of Hong Kong and Shanghai.

David Choa

Yu has led BNP Paribas AM’s Greater China equity strategy since she joined in July 2015 and will officially leave the French fund house at the end of August.

Prior to joining BNP Paribas, Yu worked at Henderson Global Investors, most recently as lead portfolio manager for the Henderson Horizon China Fund.

Following Chan’s exit from HSBC in December, a spokeswoman told AsianInvestor at the time that the remaining investment team members would look after her responsibilities while the asset management division sought a new team head.