HSBC Global Asset Management UK has appointed Andy Clark as chief executive replacing Simeon Brown.
The move, subject to regulatory approval, will see Clark (pictured) report to HSBC Global Asset Management Europe, Middle East & Africa chief executive Rudolf Apenbrink.
Brown is to leave asset manager after 16 years, the last five years of which has been spent as UK chief executive, to pursue other interests.
Clark joined HSBC as head of UK retail and was last year named as regional head of wholesale for Europe, Middle East & Africa.
Rudolf Apenbrink says: “Andy’s success in building our wholesale business as well as his vast experience in asset management positions him as the ideal new leader of our UK business.”