HSBC Global Asset Management (HSBC GAM), the investment management business of HSBC Holdings, has hired Joseph Molloy as its new head of passive equity.
Molloy will be based in London in his new role and will report to deputy chief investment officer for equities Vis Nayar.
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Nayar said, "With Joseph Molloy as our head of passive equity, our passive management capabilities will be further developed and taken to the next level, helping us to realise the very significant potential we have in this area of our business."
He most recently served as global head of index equities in Legal & General Investment Management (LGIM).
Molloy joined the LGIM index team in 2009. Before that, he served stints at Northern Trust Global Advisors and State Street Global Advisors.
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