HSBC reshuffles multi-manager team
HSBC Global Asset Management has named a new head of its UK multi-manager unit as part if a restructuring of the global team, following several departures earlier this year.
Guy Morrell, head of the unit's real estate team, has also been appointed head of the multi-manager business for the UK, Middle East and North Africa.
Morrell replaces James Hughes, who is relocating to Hong Kong to take up a new role as head of multi-manager in Asia Pacific. Hughes remains global head of business development for the multi-manager unit, but stepped down from managing the HSBC Open Global Return fund in March to concentrate on his business development role. Cara MacGregor, an analyst based in London, has taken over the portfolio, according to a spokeswoman at the group.
The changes comes on the back of several departures from the unit earlier this year. Hughes' move to Hong Kong comes after Nerida Law, the Hong Kong-based head of research for the multi-manager business in Asia Pacific, left in May. Law was replaced by senior analyst Michelle Hilliman, who remains in her role under Hughes.
Wagner Araujo, the head of HSBC Multimanager in Latin America, left in June, and London-based analyst Catherine Doyle left in February after joining the previous month.
Both Morrell and Hughes report to Joanna Munro, chief executive of HSBC Multimanager. The changes take effect from tomorrow, according to the firm.
HSBC's multi-manager unit had $32.8bn (€22.2bn) in assets under management at the end of June.
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