Cheong Mun Fai joined HSBC Asset Management in Singapore as senior vice president, ETF and indexing business development.
The position is a new one.
Mr. Cheong will be responsible for growing the money manager's ETF and indexing business across a range of market segments, including insurance companies, asset managers, pension funds, private banks and financial intermediaries, according to an HSBC news release.
He reports to Jacqueline Pang, head of ETF and indexing sales, Asia-Pacific.
Mr. Cheong comes to HSBC from State Street Global Advisors, where he led SSGA's SPDR ETF sales effort in Singapore in both the institutional and intermediary channels.
An SSGA spokeswoman said the firm will be appointing a head of Singapore for a broader role, responsible for SSGA's overall SPDR ETF business, including distribution to institutional, private wealth, intermediary and retail investors, while assisting SSGA's Singapore-based fixed income ETF sales specialist.
HSBC Asset Management had $619 billion in assets under management as of Sept. 30.
