Industry Updates

HSBC AM restructures $103bn passive arm

ETF, index and systematic mandates brought into one solution

Theo Andrew

HSBC Asset Management

HSBC Asset Management (AM) has restructured its $103bn passive arm to incorporate its ETF, index and systematic fund range under one umbrella, ETF Stream can reveal. 

The new arm, named ETF and indexing, will be led by Thorsten Michalik – who joined in February 2020 – alongside his role as global head of wholesale business and partnerships.

In addition, Olga de Tapia, currently global head of ETF sales, will take on the expanded role of global head of ETF and indexing sales, while Guillaume Rabault, current CIO of quantitative equity will oversee a dedicated ETF and indexing team within investments.

The group said it reflects the “strategic importance of passives to the business and will result in an improved product and service offering for clients”.

Michalik said: “Bringing together all of our passive funds, mandates and solutions under a single umbrella will enable us to continue providing clients with comprehensive passive solutions that meet their diverse and changing needs.”

HSBC AM added ETFs account for roughly $18bn of its new $103bn ETF and indexing arm.

The ETF issuer has launched several new products recently, including the launch of its first fixed income ETF, the HSBC Bloomberg EUR Corporate Sustainability Bond UCITS ETF (HEUC).

In addition, HSBC AM expanded its range of climate ETFs to four after it launched the HSBC Japan Climate Paris Aligned UCITS ETF (HPJP). This followed the unveiling of two tracking US and European equities in August. The firm’s first climate ETF launched in July.

In December, the firm also launched Europe’s first ETF that tracks the Hang Seng tech index.