Michael Cross was named CIO for global fixed income at HSBC Asset Management, effective Sept. 1, a spokeswoman confirmed.
Mr. Cross will be responsible for the firm's fixed-income investment platform and coordinating the firm's investment outlook in terms of investment themes and risks. He will replace Xavier Baraton in the role, who was appointed global CIO in June.
Based in London, he will report to Mr. Baraton.
"Michael brings a strong client experience which will be decisive in our ongoing efforts to develop innovative, sustainable solutions for our clients globally. His visibility across the industry and experience in engaging with public sector clients will contribute to further strengthening our relationships with senior decision makers across all client segments," Mr. Baraton said in a news release Tuesday.
Mr. Cross was most recently vice chairmain of the firm's institutional business. Details of his replacement could not be immediately learned.
HSBC Asset Management managed $171 billion in fixed-income assets as of June 30.
