Former HSBC Global Asset Management UK boss Andy Clark has landed at Edentree Investment Management where he will take over as chief executive from Sue Round.
Clark exited HSBC Gam in March after eight years as chief executive of its UK fund arm amid an ongoing reshuffle of its senior management team and was replaced internally by Stuart White.
In his new role Clark will lead Edentree on its “next phase of growth as it seeks to expand its influence in the responsible and sustainable investment space,” a press release announcing his appointment said.
He takes the reins from acting chief executive Round (pictured) from 14 September. Round will remain at the business, continuing as its deputy chairman and lead manager on the £115.8m Amity UK fund which she launched in 1988.
Following his appointment Clark will also join the group management board of Ecclesiastical Insurance, Edentree’s parent company.
Ecclesiastical Insurance CEO Mark Hews said Clark was “the stand-out candidate to take on the baton” from Round and “embrace the future opportunities available to the business”.
Under Clark’s guidance HSBC Gam UK’s business grew its market share by expanding its external distribution channels and client partnerships, which helped it to become one of the top 10 asset managers from 2017 onwards, the press release said.
Prior to becoming the firm’s UK funds boss Clark was head of EMEA wholesale business. He was also previously DWS Investments’ CEO and head of retail distribution and worked as a UK sales director for Fidelity International.
Clark said he was proud to be joining Edentree which has been “leading the market in responsible and sustainable investing for more than 30 years” and has “set a strong growth mandate”.
He added: “What was immediately obvious to me was the strong culture at Edentree of existing to contribute to the greater good of society. Not just in terms of investment strategy but also in its unique charitable ownership structure. This leads to a proven authenticity, which clients want to see from their investment manager.”
