HSBC pins asset management growth on ETFs

HSBC is planning an ambitious expansion of its exchange traded fund range in 2020 in a move to revitalise its underperforming $512bn asset management business.

Nicolas Moreau, who was appointed chief executive of HSBC’s asset management division in August, has devised a series of initiatives aimed at reinvigorating growth at a time when the London-listed bank is aggressively cutting costs.

In the first half of 2020, HSBC will launch eight ETFs employing environmental, social and governance metrics to tap into rising investor demand for ESG focused strategies.

“Combining our responsible investment and ETF expertise is a natural next step for us,” said Mr Moreau.