London-based HSBC Asset Management, the investment management business of the HSBC Group, makes senior hire.

HSBC Asset Management (HSBC AM) has appointed Richard Smith as head of UK credit solutions and senior portfolio manager within its global bond team.

He joined the firm in September and will be based in London reporting into Oliver Boulind, head of global credit, the firm said in a statement.

Smith will be responsible for developing bespoke global fixed income offerings and helping manage global bond portfolios more broadly. He brings over 25 years’ industry experience and joins HSBC AM from abrdn, where he was an investment director, managing global corporate, aggregate, total return and other portfolios. Prior to this, Smith was a senior portfolio manager at Aberdeen Asset Management and Deutsche Asset Management.

“We are pleased to welcome Richard to the team as part of our ongoing effort to boost HSBC AM’s fixed income capabilities, and further drive our long-term client and growth commitments of developing and enhancing our expertise and fixed income offering within the global fixed income platform. Richard brings significant investment experience to our global bond team that will complement the existing team’s skill set," Boulind said.

HSBC AM invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds, with assets totalling $651 billion on behalf of its clients.