HSBC Asset Management has moved its passive funds, mandates and solutions under a single department, ETF & Indexing, which will house a total of $103bn in assets.
The firm said the creation of the new unit "reflects the strategic importance of passives to the business".
ETF & Indexing will be co-driven by the firm's investments and sales teams, led by Thorsten Michalik (pictured), who is also global head of wholesale business and partnerships.
He will be supported by the Olga De Tapia, who will take up a expanded role of global head of ETF & Indexing sales, while Guillaume Rabault, CIO of quantitative equity, will oversee the ETF & Indexing team within investments.
The firm has seen the assets under management of its passive assets grow from $70bn at the end of September 2020 to $103bn at the end of September this year.
This growth is partly due to an expanded range of strategies. In November this year the firms a sustainable corporate bond ETF.
Thorsten Michalik commented: "Bringing together all of our passive funds, mandates and solutions under a single umbrella will enable us to continue providing clients with comprehensive passive solutions that meet their diverse and changing needs."
