HSBC Asset Management appoints UK ETF Business Development Director
HSBC Asset Management has appointed Tom Banks as UK ETF Business Development Director. Banks joined the firm on 15 June and will be based in London. He will report into Bhavick Patel, Head of UK ETF Business Development.
In this newly created role, Banks will be responsible for ETF sales coverage across the firm’s wholesale and institutional client businesses in the UK.
Banks brings over six years’ industry experience and joins from JP Morgan Asset Management where he was part of the UK sales team covering mutual funds and ETFs.
Commenting on the appointment, Bhavick says: “We have seen considerable growth in our ETF business this year and Tom’s appointment will enable us to expand our client engagement in the UK, a market where we see further potential for our growth.”
Growing its ETF range, particularly in areas such as ESG, Asia and fixed income, is one of HSBC Asset Management’s strategic growth initiatives. The firm currently manages USD97.7 billion in passive and systematic strategies, and USD 16.6 billion in ETF strategies.
In 2020, HSBC Asset Management set out its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers.