Joseph Molloy assumed the role on 9 March, reporting to Vis Nayar, the firm’s deputy chief investment officer for equities.
The appointment comes as part of a HSBC initiative to expand its offering in the passives/beta space, with Molloy taking on responsibility for the indexation and ETF portfolio management team.
He replaces former global head of ETFs and indexing funds Mark Hui, who departed the firm in December and is now a global equity beta solutions senior portfolio manager with State Street Global Advisors.
Nayar said: “Passive/beta strategies have become an important part of HSBC Global Asset Management’s equity offering, making up around a third of the overall assets under management in our equity funds. Growth in passive equity has been particularly strong in ETFs and index trackers.
“With Molloy as our head of passive equity, our passive management capabilities will be further developed and taken to the next level.”
Molloy arrives from a global head of index equities position with Legal & General Investment Management, with previous employers including Northern Trust Global Advisors and State Street Global Advisors.
