HSBC AM Appoints Global Fixed Income CIO
Based in London, he succeeds and will report to Xavier Baraton, Global CIO.
HSBC Asset Management has appointed Michael Cross as Global Fixed Income CIO, effective 1 September, the firm announced in a statement on Tuesday.
Cross, a 30-year veteran of the industry, joined HSBC Asset Management as global head of official sector institutions in 2015, and was most recently vice-chair of the institutional business. He spent three years at the International Monetary Fund and 20 years at the Bank of England before joining HSBC.
In his new role, Cross will be responsible for leading the firm’s fixed income investment platform, including chairing the fixed income strategic forum and coordinating its investment outlook, scenarios, risks and themes, the announcement said.
Core Solutions Focus
As part of HSBC AM's strategy, announced in 2020, to reposition the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, it has ramped up investments in Asia and enhanced its high net worth product range, with a focus on alternatives, ESG and thematic equity.
In June 2021, it established an alternatives unit, comprising HSBC Alternatives Investments, 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.
As at 30 June 2021, HSBC Asset Management managed assets totaling $625 billion on behalf of its clients. Its fixed income team manages $171 billion in assets as of 30 June 2021, with over 160 investments professional worldwide.
