HSBC Gam’s UK multi-asset boss Ashley Reid has left the business amid a leadership reshuffle, which will see Lane Prenevost take over the role and the firm’s discretionary management business.
The firm confirmed in a press release that Reid, who has headed up the multi-asset team for the last three years, had left the firm “to pursue other opportunities”. Reid first joined the asset manager back in 2011 as a senior portfolio manager, before becoming the head of its UK wealth management business in 2013.
Following Reid’s departure Prenevost will become global head of discretionary asset management and head of UK multi-asset. Prenevost has been with the wider HSBC group since 2005 and was most recently as global head of wealth investments for HSBC Wealth and Personal Banking. Before that he worked for HSBC Gam as global head of wealth and multi-asset product, where he led the design of products for both retail and institutional investors.
Based in London, he will report to Jean Charles Bertrand, global CIO of the multi-asset team.
Commenting on his appointment Bertrand said: “Multi-Asset is a key capability of HSBC Gam and Lane’s appointment will allow us to maintain our commitment to managing these assets with the skill, expertise and stewardship that our clients expect.”
Before joining HSBC Prenevost spent 12 years at TD Asset Management in Toronto, Canada, where he was a senior portfolio manager responsible for multi-asset solutions.
