Pete Scott has been appointed to the newly created role of head of innovation credit at HSBC Asset Management as the firm seeks to extend its “alternatives credit capabilities through the development of its venture debt strategy,” said a news release Nov. 25.
Scott is based in San Francisco and is responsible for building HSBC Asset Management’s venture debt team and “bringing a product to market designed to scale up fast-growing businesses that are venture-capital backed,” the news release added.
Scott previously was chief credit officer at SVB Financial Group, an HSBC spokesperson said. SVB could not be immediately reached for comment.
HSBC Asset Management has $765 billion in assets under management.
