Pedro Bastos to succeed Joanna Munro at HSBC Global AM
30 May 2014
Category: News, Asia, Global, Hong Kong
By Derek Au
HSBC Global Asset Management (HSBC Global AM) has appointed its current head of Latin America to take charge of its operations in Hong Kong and Asia-Pacific.
Pedro Bastos, who was chief executive officer of the bank’s asset management division in Brazil and regional head, Latin America, will relocate to Hong Kong for the position.
He will replace Joanna Munro, who will become global head of fiduciary governance. She will also become a member of the global executive committee.
Mr. Bastos will report to Sridhar Chandrasekharan, global chief executive of HSBC Global AM, and Kevin Martin, the bank’s regional head of retail banking and wealth management in Asia-Pacific.
“With Pedro’s extensive knowledge and experience in the fast-growing markets of Latin America, we will continue to progress towards our aspirations in Asia, particularly in delivering leading capabilities to connect Asian investors to international opportunities,” said Mr. Chandrasekharan.
Mr. Bastos has more than 25 years of experience in the financial services industry. He joined HSBC in October 2006 as CEO for global asset management – Brazil, before later adding the brief of regional head for Latin America. While at the helm, the bank launched a wide range of funds, from fully-fledged hedge fund equity arbitrage strategies to credit portfolios. He has also held senior positions at Brazil’s Unibanco.
His new role is subject to regulatory approval, and HSBC did not state when he would take up the position.
As of 31 March this year, HSBC Global AM had a total of US$440 billion in AUM.