HSBC GAM hires former DWS distribution co-head

HSBC Global Asset Management (HSBC GAM) has appointed Thorsten Michalik to the newly created role of global head of external wholesale.

Reporting to Christophe de Backer, global head of wholesale business and partnerships, Michalik is responsible for ETF sales across both the institutional and wholesale client businesses.

The role also includes managing HSBC GAM’s distribution to discretionary wealth managers, private banks, asset managers, IFA’s and platforms.

Prior to joining HSBC GAM, Michalik spent 19 years at Deutsche Bank having most recently held the role of global co-head of distribution for DWS.

The appointment follows a significant number of asset managers combining parts of their mutual fund and ETF arms where possible including BlackRock which announced it was merging its EMEA mutual fund and ETF sales teams in September.

BlackRock’s decision to merge mutual fund and ETF sales teams shows direction of travel for industry

Christophe de Backer commented: “With over 20 years in the asset management industry, Thorsten’s extensive experience will be instrumental as we look to grow our business and deliver the ambitious plans we have set out.”

HSBC GAM has made a significant push in the ETF space in recent months having reduced fees for several ETFs after hiring its CEO, Nicolas Moreau, also from DWS last year.

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