HSBC Global Asset Management has hired Puneet Chaddha as new CEO for its Singapore operations, replacing Kalen Lim who will take over another role within HSBC.
Chaddha, who will assume his new role on 1 November 2015, will be responsible for driving the growth of HSBC’s asset management business in ASEAN region.
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He will also support the wealth management and investment needs of the bank’s clients across retail, commercial, corporate, institutional and private banking primarily in Indonesia, Singapore, Malaysia, Thailand and the Philippines.
According to The Straits Times, Chaddha will be based in Singapore and will report to Pedro Bastos, Asia-Pacific CEO of HSBC Global Asset Management alongside Matthew Colebrook, HSBC’s head of retail banking and wealth management in Singapore.
Chaddha was most recently CEO of HSBC Asset Management (India) Private Limited.
Additionally, Chaddha will also assume the position of head of South East Asia of HSBC Global Asset Management and will continue to be on the board of directors of HSBC Asset Management (India) as a non-executive associate director.
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By GlobalData"The emerging middle class in ASEAN is expected to double by 2025 and wealth creation will continue to accelerate," Chaddha was quoted as saying by The Straits Times.
