Paris based CCF Capital Management (CCF CM) has changed its name to HSBC Asset Management Europe SA, in a move which will see it front a large part of HSBC’s investment management activities in continental Europe.
The announcement follows last year’s takeover of CCF by HSBC and the recent promotion of Alain Dromer, the former head of asset management at CCF CM, to lead HSBC’s global asset management operations.
Dromer replaces former chief executive Paul Guidone, who resigned to join J & W Seligman in New York.
CCF Capital Management – one of CCF’s asset management companies, which includes Framlington and Sinopia, will now become a core HSBC Asset Management company.
According to the group, CCF’s US assets will be farmed out to HSBC Asset Management in the states, with a similar approach adopted to CCF’s Japanese and Hong Kong investments, which will be transferred to the relevant local offices.
HSBC Asset Management Europe SA in Paris will focus on European Fixed-income and equity investment products, involving likely collaboration with the group’s London operations.
For sales and marketing , the Paris outfit will be at the forefront of selling the group’s products in continental Europe – except for Germany and Austria, where group subsidiary Trinkhaus & Burkhardt will continue its business.
Markets flagged up for potential business opportunities within HSBC Asset Management Europe SA include Italy, Belgium, Switzerland and Spain.
At the end of September 2000, the HSBC Asset Management Group managed and advised assets totalling US$140bn, of which US$42bn came under the CCF and subsidiaries banner.