HSBC Asset Management has hired Tom Banks as UK ETF business development director from JP Morgan Asset Management (JPMAM).
In the newly created role, Banks (pictured) will be responsible for ETF sales coverage across the firm’s wholesale and institutional client businesses in the UK.
Based in London, he will report to Bhavick Patel, head of UK ETF business development.
Banks spent six years at JPMAM where he was initially part of the UK mutual fund sales team before moving over to UK ETF sales in 2017 following the launch of the firm’s ETF range in Europe that year.
Commenting on the appointment, Patel said: “We have seen considerable growth in our ETF business this year and Tom’s appointment will enable us to expand our client engagement in the UK, a market where we see further potential for our growth.”
HSBC AM has significantly expanded its ETF team in Europe this year including the appointment of Bhaven Patel as global head of ETF capital markets in April, ETF Stream revealed, and Dominic Clabby as head of ETF strategy from Invesco in March.
The UK asset manager currently has $16.6bn assets under management (AUM) across its ETF range in Europe.