People Moves
HSBC Asset Management Arm Names CEO Singapore
HSBC Global Asset Management has named a new chief executive for Singapore.
Sten Ankarcrona assumes the Singapore CEO role from Patrick Tse, who will be taking a regional business management post for HSBC Global Asset Management in Hong Kong. Ankarcrona joined the company in 2004 as managing director for the Stockholm branch and then became head of sovereigns and supranationals Asia-Pacific in Singapore in 2010. Before HSBC, he was a senior portfolio manager for US equities at Nordea Investment Management.
He reports functionally to
Joanna Munro, CEO for Asia-Pacific for HSBC Global AM, and
locally to
Paul Arrowsmith, head of retail banking and wealth management
for HSBC Singapore.
HSBC Global Asset Management has a presence in 30 countries and records $400.2 billion in assets under management as of December 2011. In Asia, its operations are in Australia, Hong Kong, India, Japan, Singapore and Taiwan.
