HSBC's asset management arm has appointed veteran fund executive Blair Pickerell as its new Asia Pacific chief executive, replacing Paul Chow Man-yiu.
Mr Pickerell was chairman of JF Funds until his resignation in December last year as its negotiations to form a mainland fund joint venture stalled and amid talks of a culture clash between the firm's old-timers and its new American shareholders.
From today, Mr Pickerell will oversee HSBC Asset Management's regional activities, with key operations in Hong Kong, Taiwan, Singapore and Australia.
Hongkong and Shanghai Banking Corp chairman David Eldon said yesterday: 'Blair's extensive experience and expertise in the fund industry will be invaluable to our asset management business.'
Mr Chow returned to the Hong Kong stock exchange this month as its chief executive, a position he held from 1991 to 1997.
'HSBC is probably the biggest financial institution in Hong Kong and has actually a very strong network throughout Asia,' Mr Pickerell said.
'So the potential to grow a really great fund management company is very much there.
