In the newly created role, Caleffi (pictured) will be responsible for driving the firm’s ETF sales and business development across Italy, Spain and Portugal.
Based in Milan, he will report to Olga De Tapia, global head of ETF sales at HSBC GAM.
Prior to HSBC GAM, Caleffi was head of ETF business development for Italy, Iberia and Israel at Invesco.
He joined the US giant following the acquisition of Source in 2017 however was there for just a year until September 2018.
At Source, Caleffi was managing director and head of southern Europe and Israel for nine years between 2008 and 2017.
De Tapia commented: “Stefano’s appointment is yet another milestone in our plans to grow our ETF business in Europe.
“His extensive client-facing and ETF industry experience make him the perfect candidate to drive our sales effort in Italy, Spain and Portugal.”
The firm has expanded its ETF sales team significantly this year highlighted by the appointment of Philip Knueppel as head of ETF sales for Germany, Austria and Switzerland (DACH) earlier this month and Marc Hall as head of ETF sales in Switzerland in April.