Puneet’s successor in India will be announced in due course.
Puneet Chaddha, CEO, HSBC Mutual Fund is set to join as the CEO of HSBC Global Asset Management (Singapore), with effect from 1 November 2015, said a press release issued by the company.
Puneet’s successor in India will be announced in due course, the company said.
Puneet will also take up the position of Head of South East Asia of HSBC Global Asset Management.
“The emerging middle class in ASEAN is expected to double by 2025 and wealth creation will continue to accelerate. 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 Global Asset Management is strongly positioned to support", said Puneet Chaddha.
In his new role, Puneet will drive the growth of HSBC's asset management business in ASEAN, supporting the wealth management and investment needs of HSBC's key clients across retail, commercial, corporate, institutional and private banking primarily in Indonesia, Singapore, Malaysia, Thailand and the Philippines.
