HSBC Global Asset Management has announced former DWS boss Nicolas Moreau will be taking over from Sri Chandrasekharan as chief executive next month.
Moreau (pictured) joins from European asset manager DWS where he was most recently CEO but left in October 2018 after its Q3 results.
At HSBC Gam, he will be based in London leading the asset management arm.
Chandrasekharan, who has been CEO for seven years, will be moving into another senior role within the HSBC group, to be announced in due course, in September.
Moreau’s experience
Since leaving DWS, Moreau has occupied several advisory roles including founder and CEO of Ladbroke Advisory and senior adviser at Alpima. He was also a board member of Deutsche Bank and Chili Piper.
Prior to DWS, Moreau was group CEO of Axa UK and Ireland from 2006 to 2010. He was also chairman and chief executive of Axa France and a member of the Axa group management committee from 2009 to 2016.
During this time, he was also a member of the board of the Association of British Insurers (ABI) and chairman of the ABI Health committee.
A focus on asset management
HSBC CEO of retail banking and wealth management Charlie Nunn said: “We’re delighted to welcome Nicolas to HSBC. Asset management is a key area of focus for us and one we are committed to growing in line with increased client demand for products and solutions that help meet their long-term financial ambitions.
“HSBC Global Asset Management passed the $500bn threshold for its assets under management this year, and Nicolas is the ideal candidate to lead the business going forward.”
Nunn added: “I’d like to thank Sri for his dedication over the last seven years. He has built a strong foundation for the Asset Management business which will allow us to focus on a new and ambitious phase of growth.”
