Bhaven Patel joined HSBC Asset Management as global head of ETF capital markets, a spokesman confirmed.
The role is new and Mr. Patel is based in London.
Reporting to Carmen Gonzalez-Calatayud, head of ETF capability, Mr. Patel is responsible for running the firm's exchange-traded funds capital markets function and driving the liquidity strategy for its ETF platform. He works closely with the ETF sales team, and with operations and product development teams.
HSBC AM runs $15.5 billion in ETFs and $93.9 billion in passive and systematic strategies.
"Bhaven's experience in designing and launching asset class-specific ETF platforms will enable us to continue expanding our growing range of ETF products and capabilities," Thorsten Michalik, global head of external wholesale and ETFs, said in a news release.
HSBC AM unveiled a new strategy last year to reposition the business as a core solutions and specialist emerging markets, Asia and alternatives-focused money manager. Growing the ETFs business, particularly in ESG, Asia and fixed income, is one of its strategic growth initiatives.
Mr. Patel joined from DWS Xtrackers where he was director, ETF capital markets. A spokesman said there was not yet a direct replacement for Mr. Patel, with the rest of the team — led by Keshava Shastry, head of capital markets — taking on his duties for now.