HSBC Global Asset Management has appointed Nicolas Moreau as its new chief executive, the firm said in a statement, adding that he will join in September.
Moreau, former head of AXA France and Deutsche Bank’s DWS unit, replaces Sri Chandrasekharan, who will be moving into another senior role within HSBC Group, the lender’s asset management business said.
Moreau will be based in London, it added.
Moreau will likely be given a mandate to explore a combination of the arm with a rival through a merger or a takeover.
Earlier in the week, HSBC’s John Flint was ousted as CEO after just 18 months in the role, in a move the bank said was needed to speed up progress on priority areas.
Via Reuters / Sky News
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