In yet another sign of the continued shift of focus to Asia, HSBC has hired an executive for the dual role of global and APAC head of alts.
Mathieu Forcioli joins HSBC as its global and APAC head of alternatives within the investment and wealth solutions (IWS) division of the wealth and personal banking (WPB) business, according to a statement, effective September 1.
Based in Hong Kong, Forcioli reports to global head of ESG and managed solutions Jan-Marc Fergg as well as APAC regional head of IWS Stefan Lecher.
Forcioli joins from Antarctica Asset Management in Hong Kong where he is currently its head of Antarctica Private, overseeing the private markets offering globally. Previously, he also worked at alternatives asset manager Moonfare, UBS, Merrill Lynch and Calyon.
Record Year for Alts
According to the statement, HSBC’s private banking arm raised $3.25 billion in client commitments worldwide for alternative investments – a record-high figure – up from $2.3 billion risked in 2020.
Asia and EMEA accounted for $1.9 billion and $1.3 billion, respectively.
«We are making huge strides to bolster our wealth products and platforms for our clients, and the alternatives proposition is a key element of that,» said global head of IWS Lavanya Chari.
