HSBC Asset Management has announced the appointment of Yigit Onat as the head of multi-asset, which will be effective on 20 June, subject to regulatory approval.
Onat will be responsible for the multi-asset team in Hong Kong, which manages HSBC AM’s flagship life cycle, income and MPF multi-asset streategies.
He will report functionally to Jean Charles Bertrand, global multi-asset chief investment officer (CIO), and locally to Cecilia Chan, Asia Pacific CIO.
“Multi-asset is a key component of our long-term growth strategy in delivering investment excellence to our clients,” said Bertrand.
Onat will lead a team of six located in Hong Kong and be supported by more than 70 staffs in 14 countries and territories.
Prior to his promotion, Onat was the CIO for HSBC AM in Turkey, where he led a team of 10 portfolio managers and investment analysts focusing on wealth management and multi-asset investment funds for pension and insurance companies.
Previously, he was also the head of equities in Turkey and lead manager of the HSBC GIF Turkey Equity Fund.
In the same announcement, the CIO thanked the outgoing head of multi-asset, Denis Gould.
“[Gould] has been instrumental in the success of our multi-asset solutions in Asia where our assets have nearly doubled to about $60bn over the last five years,” Bertrand added.
The asset manager launched its latest sustainable multi-asset fund in January, which invests in eight asset classes across 50 countries.
