HSBC Global Asset Management has appointed Nicolas Moreau as its chief executive officer.

Moreau joins HSBC from DWS, the asset management arm of Deutsche Bank, where he was also CEO and a member of the management board.

Prior to DWS, Moreau also worked in several different roles for insurance company AXA, including chairman and chief executive of AXA France and group chief executive of AXA UK and Ireland. He also had a brief period working for investment platform ALPIMA as a senior advisor for six months before accepting the role at HSBC

Based in HSBC’s London offices, Moreau is set to join in September when the current CEO of seven years, Sri Chandrasekharan, will move to another senior role within the HSBC group which the bank will announce at a later date.

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Charlie Nunn, CEO of retail banking and wealth management at HSBC, said in a statement: “Asset management is a key area of focus for us and one we are committed to growing in line with increased client demand for products and solutions that help meet their long-term financial ambitions.

"HSBC Global Asset Management passed the $500bn threshold for its assets under management this year, and Nicolas is the ideal candidate to lead the business going forward.”

HSBC GAM has been developing its ETF product offering recently with the launch of its Saudi Arabia ETF back in May.