The new appointee had been head of global wealth management client coverage at UBS Asset Management.

HSBC Asset Management has appointed former UBS wealth management figure Charles Li as head of wholesale business for Asia. The move, which takes effect from 1 September, is subject to regulatory approval.

In this newly-created role, Li will be responsible for covering all wholesale clients in mainland China, Hong Kong, Taiwan, India, Japan and Southeast Asia. In addition to leading the wholesale sales and client servicing teams in the region, Li will also be responsible for setting and delivering the firms’ wholesale strategy.

Li brings, who brings more than 20 years of asset management experience, is joining from UBS Asset Management where he was head of global wealth management client coverage, APAC and deputy head asset management (Hong Kong). Prior to this, he held senior positions at Fortis Investment Management Asia, PCI Investment Management and Allianz Global Investors.

Based in Hong Kong, Li reports to Thorsten Michalik, global head of wholesale, and locally to Daisy Ho, chief executive, Asia-Pacific and Hong Kong.

Among recent developments at HSBC, in June the banking group entered an exclusive distribution pact with Allianz SE (Singapore) for a period of 15 years. The banking group intends to distribute insurance products to its clients in six markets across Asia. The private bank also recently appointed Bryce Wan as market head for north Asia, taking effect from 12 August. HSBC has also appointed Irene Hy Chen as global head of its ultra-high net worth solutions arm – part of the bank’s wealth and personal banking business. Chen is based in Hong Kong.