Former GT Global smaller companies fund manager David Taylor is joining HSBC Asset Management as it attempts to halt a £15m wave of redemptions.
Taylor will head up HSBC's smaller companies division. He replaces Ashton Bradbury who is leaving for Hill Samuel Asset Management next month.
The HSBC Smaller Companies fund has been hit by £15m in redemptions since Bradbury announced his resignation.
Taylor left Invesco at the end of September. He ran the £9.5m GT Smaller Companies fund which is being merged with the £140m Invesco small cap trust run by Andy Crossley.
Following the £690m takeover of GT by Amvescap, which owns Invesco, in January the retail trusts of both groups are being merged.