Former Henderson head of UK retail Simon Ellis has joined HSBC Global Asset Management as global head of client segments.
HSBC GAM says Ellis will be responsible for developing the service, product and reporting proposition for all client segments targeted by the asset manager. He will be supported by a small team and work with sales, product and client propositions and operations.
An internal HSBC GAM note says: “This newly created role is about further developing our proposition for key client segments and ensuring the offering is well targeted.”
Charles Stanley Direct head of investment research Ben Yearsley says: “HSBC is not a massive retail name in asset management and while it has a large passive suite driven by price, it has a lot of work to do to build a successful retail brand.”
Ellis was formerly managing director of Fidelity International’s multi-manager business, head of UK retail and CEO of multi-manager at Axa Investment Managers and Henderson’s head of UK retail. His last role was as L&G’s managing director of investments, which he left in January 2013.