Three years after selling out for a bargain price to Challenger, HSBC is bringing its global asset management capabilities back to Australia – and has hired a well-known Barclays Global Investors insto BDM to help.

Charles Genocchio is now finishing up at BGI after more than seven years, and after July 1 will become managing director of a new company, owned by HSBC, which will distribute HSBC Global Asset Mangement’s wide range of products in Australia. It is understood Genocchio will emphasise offerings such as the global equity/emerging markets funds of Sinopia, a specialist quant manager within the HSBC Group, and the hedge fund-of-funds of HSBC Alternative Investments (HAIL), acquired through HSBC’s purchase of the Republic Bank of Bermuda. Genocchio was unavailable for comment. BGI’s head of distribution, Will Britten, said a replacement of approximately Genocchio’s seniority and experience was being sought, adding that Charles would be missed. Meanwhile, BGI has appointed Chris Evans as client director within its institutional client relationship team. Evans, who was previously in a senior client relationship role with BGI Europe, will take up the Sydney-based role in June. He will report directly to Katherine Allchin, BGI’s head of client relationships.

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