HSBC Global Asset Management has announced the appointment of Puneet Chaddha (pictured) as Chief Executive Officer, HSBC Global Asset Management (Singapore) Limited, with effect from 1 November 2015. He succeeds Kalen Lim who will move to another senior role within HSBC.
Chaddha, who was previously Chief Executive Officer of HSBC Asset Management (India) Private Limited, will also take up the position of head of South East Asia of HSBC Global Asset Management.
In his new roles, Chaddha will drive the growth of HSBC’s asset management business in ASEAN, supporting the wealth management and investment needs of HSBC’s key clients across retail, commercial, corporate, institutional and private banking primarily in Indonesia, Singapore, Malaysia, Thailand and the Philippines.
His successor in India will be announced in due course.
Based in Singapore, he will report to Pedro Bastos, Chief Executive Officer, Asia-Pacific of HSBC Global Asset Management and Matt Colebrook, HSBC’s head of Retail Banking and Wealth Management in Singapore.
“The emerging middle class in ASEAN is expected to double by 2025 and wealth creation will continue to accelerate. The increasingly affluent domestic population will have greater need for investment products presenting significant growth opportunities to our business. As Asia faces the challenge of ageing segments, pension management and the shift to long-term, diversified investment strategies are needs that HSBC is strongly positioned to support”, said Chaddha.
Pedro Bastos said: “Puneet has been with the HSBC Group for over two decades and has worked in several of our global businesses. He has successfully transformed the business in India in line with HSBC’s commercial and governance strategy. We are determined to expand our presence in Asia-Pacific and capitalise on our leading expertise and capabilities as a global asset manager to provide innovative products and bespoke solutions to meet our clients’ long-term investment goals.”