HSBC Asset Management has hired Cheong Mun Fai from State Street Global Advisors as senior vice president of exchange-traded fund and indexing business development.
Based in Singapore, he will be responsible for driving growth and distribution of the HSBC and Hang Seng ETF and indexing business, the asset management firm says in a statement recently.
Cheong reports to Jacqueline Pang, the head of ETF and indexing sales for Asia Pacific, who says that the company is building out passive solutions positioned around emerging markets and Asia to capture the “immense growth opportunities” of ETFs and indexing, and also expanding its sales team.
“Mun Fai’s extensive client and ETF market experience will be invaluable to help grow our ETF capabilities in the region,” she says in the statement.
Cheong was a vice president at State Street Global Advisors, responsible for leading the SPDR ETF sales.
HSBC Asset Management had US$619 billion of assets under management as of end-September 2021.