Joanna Munro, HSBC Asset Management
HSBC Alternatives will have a 150-strong team and combined assets under management and advice of $53bn, according to a statement by the firm
It will comprise HSBC Alternatives Investments (HAIL), which includes the multi-manager hedge fund and private market teams, as well as the firm’s private debt, venture capital and direct real estate teams, with existing capabilities in Hong Kong, the UK, France, Germany, Switzerland, and the US.
The firm’s alternatives assets have doubled over the past four years and the creation of a single business unit is the next step in its strategy to reposition the business as a core solutions provider and a specialist Asia, emerging markets and alternatives asset manager, according to the statement.
Joanna Munro, currently global chief investment officer, will lead the combined unit, reporting directly to Nicolas Moreau, HSBC AM’s chief executive officer, as a member of his management committee.
She will be responsible for enhancing and expanding the range of alternative investments available to the firm’s wealth and institutional clients, across indirect and direct alternatives including hedge funds, private markets and real estate.
Munroe was appointed global CIO in 2019 and has been with HSBC Asset Management since 2005, with responsibilities including CEO multi-manager and CEO Asia Pacific. She will continue to be based in London.
Xavier Baraton, currently global CIO for fixed income, private debt & alternatives, will succeed Munroe as global CIO and reporting to Nicolas Moreau. He will join the management committee and continue to be based in Paris.
Baraton joined HSBC AM as global head of credit research in 2002 and has been CIO for fixed income since June 2010.
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers, according to the statement.
As at 31 March 2021, HSBC AM managed assets totalling $621bn on behalf of its clients.
