HSBC Taps Longtime Exec Chandrasekharan to Lead Its Hong Kong Operations

HSBC has shifted the nexus of its major fund operations, moving a $445 billion fund management arm from London to Hong Kong in a bid to capture higher growth yields in the Asian markets.

The man tasked to oversee HSBC’s Hong Kong initiative and operations there will be Global Chief Executive of HSBC’s Asset Management, Sridhar Chandrasekharan, who will serve as head of the new operations - he will continue to oversee the business globally from his new location. The move comes amidst an existential period of change for the global lender, as it mulls over a move of its headquarters to the Asian Hub Hub A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method A hub as its name suggests describes the center of activity or a focal point. In terms of finance, the term hub can refer to Hub and Spoke Trading or a liquidity hub. However, the terms are not interchangeable, but they do overlap. Hub and Spoke trading refer to a network that posts bids and offers for an asset and therefore creates a real market. For example, Hub and Spoke trading allow traders to see the other submissions and offers from other traders on the platform. This is a popular method Read this Term.

According to a recent HSBC statement on the possible move, "As a global asset manager, we believe there are opportunities for us to grow our business with our clients and contribute to the evolution of the investment markets.” The installment of Mr. Chandrasekharan lends weight to this idea, namely as HSBC commits a growing amount of resources and human capital to the Hong Kong branch.

Mr. Chandrasekharan joined the Hong Kong office at HSBC prior to the selloff this week in China that convulsed currency markets worldwide. It will be interesting to see if the recent fallout and turmoil wrought by the Chinese economic policy will alter HSBC’s plans, which so far have painted a pretty steady and convincing trajectory towards Hong Kong.

Mr. Chandrasekharan currently serves as HSBC Asset Management’s Global Chief Executive Officer and Director, having previously worked as its Global Head of Wholesale and Head of Marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term at the firm – he has been a mainstay at HSBC since 1993.

Last week, HSBC announced that its Global Head of Foreign Exchange (FX) Options, Selene Chong, had taken a temporary sabbatical, paving the way for veteran Ashwath Venkataraman to fill the void for the foreseeable future. Chong had been a mainstay at HSBC for over fourteen years, having worked at the global bank exclusively relegated to FX.