HSBC Asset Management has appointed Michael Cross in the newly created role of Global Fixed Income CIO.
The fund manager said in a statement that Cross will be based in London and his appointment is effective from 1 September.
In his new role, Cross will be responsible for leading the firm’s fixed income investment platform including chairing the fixed income strategic forum and coordinating its investment outlook, scenarios, risks and themes.
Cross was most recently Vice-Chair of the Institutional Business.
He joined HSBC Asset Management as Global Head of Official Sector Institutions in 2015 after three years at the International Monetary Fund and 20 years at the Bank of England. At the UK central bank his role included leading a large investment team comprising portfolio managers, FX dealers, and policy, research and market intelligence managers and analysts.
He succeeds and will report to Xavier Baraton, Global CIO.
Baraton was previously Global CIO for Fixed Income, Private Debt & Alternatives but took on his current role in June when HSBC Asset Management announced that it was bringing together all of its existing alternatives capabilities under a single business unit. Joanna Munro, the previous Global CIO is leading the new unit, HSBC Alternatives.
Baraton said in a statement: “With strong credentials in managing fixed income teams, Michael’s high calibre profile, fundamental focus and particular specialisation on FX and rates will further support our growing recognition as a leading global fixed income asset manager, complementing our well recognised expertise in credit, Asia and Emerging Markets debt.
“Michael brings a strong client experience which will be decisive in our ongoing efforts to develop innovative, sustainable solutions for our clients globally. His visibility across the industry and experience in engaging with public sector clients will contribute to further strengthening our relationships with senior decision makers across all client segments.”
HSBC Asset Management’s global fixed income team managed $171bn in assets as of 30 June 2021, with over 160 investments professional worldwide.
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