By David Ricketts

Of Financial News

HSBC Global Asset Management has made its first high-profile appointment under the leadership of new Chief Executive Nicolas Moreau.

Joanna Munro has been named global chief investment officer, according to a statement.

She has been promoted from her role as global head of stewardship and fiduciary governance at the $500 billion asset manager and replaces Chris Cheetham, who has decided to retire from his full-time executive role.

Munro, who has worked at HSBC since 2005 and also chairs its asset-management division in the U.K., will take on the role at the end of September and report directly to Moreau.

Moreau was previously chief executive of DWS, the asset-management arm of Deutsche Bank AB (DB). He left in October 2018 after failing to stem heavy outflows from the business that he helped steer through a public listing. He took over at HSBC Global Asset Management earlier this month.

Moreau said: "[Ms. Munro's] ability to encourage global collaboration, track record in bringing people together and attitude toward problem-solving makes her the ideal candidate for this role. I am confident that with her extensive, global experience we will be in an even stronger place to help clients meet their investment objectives."

In addition to her work at HSBC, Munro is a nonexecutive director of the Investment Association, the U.K. fund management trade body, and a founding member of the Diversity Project.

Website: www.fnlondon.com

(END) Dow Jones Newswires

September 09, 2019 08:59 ET (12:59 GMT)

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