HSBC Asset Management has appointed Michael Cross as Global Fixed Income CIO, effective 1 September. Based in London, Cross succeeds and will report to Xavier Baraton, Global CIO.
In his new role, Cross will be responsible for leading the firm’s fixed income investment platform including chairing the fixed income strategic forum and coordinating its investment outlook, scenarios, risks and themes.
Cross moves into this role with over 30 years’ industry experience. He joined HSBC Asset Management as Global Head of Official Sector Institutions in 2015, and was most recently Vice-Chair of the Institutional Business.
Prior to joining HSBC, Cross spent over three years at the International Monetary Fund and 20 years at the Bank of England – in the last 12 of which he was leading a large investment team comprising portfolio managers, FX dealers, and policy, research and market intelligence managers and analysts.
Commenting on Michael’s appointment, Baraton says: “With strong credentials in managing fixed income teams, Michael’s high calibre profile, fundamental focus and particular specialisation on FX and rates will further support our growing recognition as a leading global fixed income asset manager, complementing our well recognised expertise in credit, Asia and Emerging Markets debt.
“Michael brings a strong client experience which will be decisive in our ongoing efforts to develop innovative, sustainable solutions for our clients globally. His visibility across the industry and experience in engaging with public sector clients will contribute to further strengthening our relationships with senior decision makers across all client segments.”
HSBC Asset Management’s global fixed income team manages USD171 billion in assets as of 30 June 2021, with over 160 investments professional worldwide.
In 2020, HSBC Asset Management set out its strategy to reposition 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.