HSBC Global Asset Management has named a new chief executive for its Singapore office.

Kalen Lim steps in as Singapore CEO effective 1 July 2013 after serving as head of business finance for HSBC Singapore. Before that, she was responsible for business banking strategy and products for the commercial banking arm. She joined the company in 2005.

In this new role, Lim will report jointly to Joanna Munro, CEO for Asia-Pacific at HSBC GAM, and Paul Arrowsmith, the head of retail banking and wealth management at HSBC Singapore.

She takes over from Sten Ankarcrona, who has been named managing director and head of the Nordic region at HSBC Global's Stockholm office. Information about Lim's replacement at her old role was not available as of this writing.

HSBC Global Asset Management manages some $428 billion in assets under management worldwide.