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April 30, 2021

HSBC Asset Management appoints global head of ETF Capital Markets

By Verdict Staff

HSBC Asset Management (HSBC AM) has hired Bhaven Patel as the global head of ETF Capital Markets, who will operate out of London.

Patel, who joined the firm on 6 April, will report to head of ETF Capability Carmen Gonzalez-Calatayud.

In his new position, Patel will run the firm’s ETF Capital Markets function and drive the liquidity strategy for its ETF platform.

He will work with the ETF sales team to assist clients in ETF trading and execution requirements. He will also work alongside the ETF operations and product development teams to help design primary market infrastructure.

Patel has spent over 16 years in the industry, managing the primary and secondary ETF markets. He most recently was at DWS Xtrackers, where he had a six-year stint in the role of ETF Capital Markets director.

Before joining DWS, Patel was a member of the iShares ETF Capital Markets team. He also worked at Credit Suisse and Morgan Stanley.

Commenting on the appointment, HSBC AM Global head of External Wholesale and ETFs Thorsten Michalik said: “Bhaven’s experience in designing and launching asset class-specific ETF platforms will enable us to continue expanding our growing range of ETF products and capabilities.”

Bhaven added: “HSBC Asset Management’s ETF business has seen momentous growth over the past year and it is an exciting time to join the firm. I am looking forward to helping the company bring innovative products to the market.”

Last year, HSBC AM revealed its strategy to re-position the business as a core solutions and specialist emerging markets, Asia and alternatives focused asset manager.

Growing its ETF range, in areas such as ESG, Asia and fixed income, is part of the firm’s strategic growth initiatives.

At present, the business oversees $93.9bn in passive and systematic strategies and $15.5bn in ETF strategies.

In February this year, HSBC AM introduced a UK-focused direct lending capability in partnership with HSBC UK Bank.

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