HSBC GAM follows in Schroders footsteps with CIO promotion

Stewardship head Joanna Munro pledges to bring ‘fresh perspective’

HSBC Global Asset Management has followed in the footsteps of Schroders in the promotion of stewardship head Joanna Munro to global chief investment officer.

Munro (pictured) takes over from Chris Cheetham, who announced in May he was retiring.

She is currently global head of stewardship and fiduciary governance at the bank’s asset management division. The emphasis on stewardship and governance echoes the focus on ESG in a press release issued by Schroders this month announcing the appointment of Charles Prideaux as global head of investment.

Willis Owen head of personal investing Adrian Lowcock said ESG is becoming more core to the investment process of big institutions. “This is hardly surprising given that ESG can offer a long-term benefit and improve performance so is worth incorporating into the investment strategy.”

Munro starts in the new role at the end of September.

She joined HSBC GAM in 2005, becoming global CIO of HSBC Investments, when the bank ran its asset management arm as a multi-boutique structure.

She has also been head of product and chief executive of the Asia Pacific business, when she was based in Hong Kong. She is also non-executive director of the Investment Association in the UK and a founding member of the Diversity Project.

Munro said her background “brings a fresh perspective to the role”.

Spate of CIO changes

As well as change at Schroders, Columbia Threadneedle has also this month revealed its Emea CIO, Mark Burgess, would be stepping down at the end of September for a career break.

“The appointment of the right CIO is essential and finding the right candidate, even internally, can take time,” Lowcock said.

Munro will report to HSBC GAM chief executive Nicolas Moreau who joined the firm last month.

In a press release announcing the appointment, he said: “Her ability to encourage global collaboration, track record in bringing people together and attitude towards problem-solving makes her the ideal candidate for this role.”

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