Money Management

HSBC Global Asset Management appoints head of passive fixed income

Sebastien Faucher was named head of passive fixed income at HSBC Global Asset Management, a spokeswoman said.

The position is new. Mr. Faucher focuses on strengthening the passive fixed-income strategies as HSBC is set to unveil a new fund range.

"The initiative, in which (Mr. Faucher) will play a key role, is in response to identified client demand. It reflects our commitment to satisfy it with the most relevant and effective range of products and solutions," Xavier Baraton, global chief investment officer, fixed income, said in a news release. Further details on new strategies were not provided.

Mr. Faucher was previously head of index fixed income at Legal & General Investment Management. A spokeswoman at LGIM said Colm O'Brien took up the role of head of index, EMEA, and he oversees the group's index tracking strategies in both equities and fixed income.

HSBC had $462 billion in assets under management as of Sept. 30.