Posted inBusiness moves

HSBC AM makes alts push with new real estate team

A new direct real estate team at HSBC Asset Management (HSBC AM) is part of the bank’s strategy to build out its alternatives business across Apac.

With growing investor appetite for alternative assets in mind, HSBC AM has unveiled a new direct real estate team based in Singapore.

Victoria Sharpe will take charge of the new unit, in the role of managing principal and head of real estate, Asia-Pacific.

Prior to joining HSBC at the start of this month, Sharpe was with DWS, where she was responsible for building and leading its regional real estate business since 2016. Overall, Sharpe has nearly 40 years’ investment experience in real estate.

Lionel Low and James Bartlett also joined HSBC AM, becoming managing principals of the new team. They collectively have 40 years of experience in the sector.

“[This] is further evidence of our commitment to grow our alternatives business in Asia and provide locally invested real estate exposure to our global client base,” said Joanna Munro, chief executive officer of HSBC Alternatives.

Patrice Conxicoeur, HSBC AM’s Singapore chief executive officer and head of South-east Asia, added: “Having this team on the ground will better position us to meet the investment needs of the different client segments that we serve in this region, including wealth, insurance and corporates.”

In June, the asset manager consolidated its alternatives business under a single unit, HSBC Alternatives, with a 150-strong team and combined assets under management and advice of $45bn.

The consolidation is aimed at re-positioning the business as a core solutions and specialist emerging markets, Asia and alternatives-focused asset manager, according to a statement from the bank.

Recently, HSBC agreed to acquire 100% of the issued share capital of Axa Singapore for $575m, as a key step in achieving the group’s ambitions of growing its wealth management operations in Asia.

Part of the Mark Allen Group.