HSBC Asset Management has recruited former First Sentier Investments chief investment officer Paul Griffiths as its new global head of institutional business.

Based in London and reporting to chief executive Nicolas Moreau, Griffiths will start on 5 May, taking over from Brian Heyworth who left the firm last year.

With over 30 years' experience in the industry, Griffiths will be responsible for the commercial development of the firm's institutional business and leading its institutional sales and client management teams.

Previously at First Sentier Investments where he was chief investment officer, fixed oncome & multi asset solutions, Griffiths has also held senior roles with firms including Aberdeen Asset Management, Credit Suisse, Axa and lnvestec.

Griffiths is further the founder investor of the UK's first student run investment portfolio based at the University of York.

Moreau said: "Paul's extensive investment management experience and deep knowledge of the needs of institutional clients will prove invaluable as we continue to develop our proposition and differentiate our offering in the market."

Griffiths added: "HSBC Asset Management has seen significant growth in its institutional business over the past year. This has been driven by bringing a strong set of innovative products to the market and I am thrilled to be part of its future development."

HSBC Asset Management set out its strategy in 2020 to "re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager, with client centricity, investment excellence and sustainable investing as key enablers.

"The firm restructured its business to establish a more market competitive and client-centric operational model.

"As part of this, it changed its distribution model to operate with a global approach with the creation of Institutional and Wholesale client businesses."

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