Joanne Murphy, head of regional sales for HSBC's Alternative Fund Services group, has handed in her resignation. Murphy will officially leave HSBC on April 22 and will take a few weeks of gardening leave before beginning her new role, which she describes as an "exciting new venture." She was unable to disclose details of her new position at this stage.

Murphy is a popular figure on Asia's hedge fund circuit and a frequent speaker at hedge fund conferences. She has spent the last four years with HSBC's (previously Bank of Bermuda's) Asia fund administration team, during which time the Asian hedge fund industry has seen explosive growth. Prior to this, Murphy spent nine years with MSCI where she focused on hedge fund clients.

Industry participants are curious to see where Murphy will reappear. Sources speculate that she will join a fund of hedge funds rather than a competitor hedge fund service provider.

Murphy's responsibilities at HSBC will be assumed by Colin Lunn, who will take on a combined role of regional head of sales and client relationships for Asia Pacific. Lunn has 15 years of experience in the fund administration business and has spent the last decade with HSBC's team via Bank of Bermuda. He will report to Lilian Wong, regional head of alternative fund services for Asia Pacific.

"We're delighted to welcome Colin to this new role," says Wong. "His appointment is an opportunity to underpin HSBC Alternative Fund Services' strategy to align sales and client relationships management more closely going forward to provide a broader support function for clients... throughout the lifecycle of a fund."