Puneet Chaddha will start his new role on 1 November and will be based in the asset manager’s Singapore office.
He succeeds Kalen Lim who has moved to another senior position within HSBC.
Chaddha will be tasked with driving the growth of HSBC’s asset management business across the ASEAN region, supporting the wealth management and investment needs of HSBC clients in Indonesia, Singapore, Malaysia, Thailand and the Philippines.
His successor in India will be announced in “due course”, HSBC GAM said in a statement.
Emerging middle class
“The emerging middle class in ASEAN is expected to double by 2025 and wealth creation will continue to accelerate,” said Chaddha.
“The increasingly affluent domestic population will have greater need for investment products presenting significant growth opportunities to our business.
“As Asia faces the challenge of ageing segments, pension management and the shift to long-term, diversified investment strategies are needs that HSBC is strongly positioned to support.”
Chaddha will report to chief executive of HSBC GAM’s Asia-Pacific division Pedro Bastos and its head of retail banking and wealth management in Singapore, Matt Colebrook.
Bastos said Chaddha has transformed the business in India, ensuring it is aligned with HSBC’s commercial and governance strategy.
“We are determined to expand our presence in Asia-Pacific and capitalise on our expertise and capabilities as a global asset manager to provide innovative products and bespoke solutions to meet our clients’ long-term investment goals.”