There is change at the top of the bank's asset management group in Asia. At the end of September, it oversaw $619 billion, of which about 31 per cent was in the Asia region.

HSBC Asset Management has named Daisy Ho as its new regional chief executive for Asia-Pacific and Hong Kong. Ho replaces Pedro Bastos who is moving to a newly-created role as chief investment officer for international markets and Asia strategist.

Based in Hong Kong, Ho will join the firm on 8 November and report to CEO Nicolas Moreau. She has more than 20 years’ experience in the asset management industry and joins from Fidelity International, where she was president for China, overseeing the firm’s overall China strategy across business, investments, operations and other key functions. Prior to that, she was managing director, Asia ex-Japan and Middle East. Ho joined Fidelity in 2005 as head of relationship management, institutional business, Hong Kong and was later appointed head of institutional business, Asia ex-Japan.

Prior to joining Fidelity, Ho served in senior management roles in the wealth management and asset management divisions of JP Morgan, AXA and Hang Seng Bank. 

In his new role, Bastos will work with the asset class chief investment officers and CIOs of the firm’s international markets, a group of 11 markets managed locally to support their local investment teams. As Asia strategist, Bastos, who will contribute to promote the firm’s global house views and Asia macro and investment views, will still be based in Hong Kong.

“Our business in Asia has seen significant momentum, with AuM growing 11 per cent YoY as at 30 September 2021 and 12 per cent YoY in 2020, driven by strong net flows and positive fund performance,” Moreau said. “Daisy’s extensive experience and knowledge of the fast-growing markets in Asia Pacific will prove invaluable to fulfilling our ambition of becoming a leading international asset manager in the region and supporting HSBC’s Asia Wealth strategy.” 

The firm’s AuM in Asia stands at $190 billion, accounting for 31 per cent of its total AuM of $619 billion as at 30 September 2021.