People Moves

HSBC Asset Management Promotes Private Bank Distribution Head

Stephen Harris 21 July 2008

HSBC Asset Management Promotes Private Bank Distribution Head

HSBC Global Asset Management has promoted Phil Reid to the position of head of External Distribution, Wholesale. He was previously head of Private Bank Distribution, a role he had had since joining the organization in January 2007.

In a statement, HSBC Global Asset Management said that Mr Reid will continue to lead the important relationship with HSBC Private Bank, in addition to the intermediary client base. 

Additionally, Dan Rudd, previously head of UK External Distribution, has been appointed head of Wholesale for HSBC Global Asset Management in the Middle East, North Africa region. Mr Rudd has relocated to Dubai and will build up the presence of HSBC Global Asset Management among wholesale clients in the MENA region.

Mr Reid and Mr Rudd both report to Andy Clark, managing director, at HSBC Global Asset Management in the UK and MENA region.

Mr Clark said that the HSBC Global Asset Management proposition continues to gather momentum and that the multi-asset HSBC Openfunds range had raised £137 million ($273 million) since launch in November 2006.

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