UK - Goldman Sachs Asset Management has hired HSBC Asset Management’s Geoff Cheetham to boost its UK Institutional sales team.

GSAM said Cheetham would focus on large UK corporate pension funds. “Geoff joins GSAM from HSBC Asset Management, where he was head of distribution for the firm’s asset management business in the UK for three years,” GSAM said.

Prior to that he spent eight years at Merrill Lynch Investment Managers, it added. Cheetham is an associate of the Chartered Insurance Institute and a member of the Securities Institute.

“We are delighted to welcome Geoff to the team,” said Oliver Bolitho, head of GSAM’s UK and Irish business.

“He brings with him far-reaching experience and an in-depth understanding of the challenges facing UK pension funds. I am confident that his contribution will be significant.

“His appointment reflects GSAM’s continuing strength in the institutional arena and our commitment to managing value-added portfolios for a broadening client base.”

GSAM’s UK and Ireland institutional business has £16.8bn in assets and approximately 100 clients. Earlier this week Goldman said GSAM gained $15bn (€11.9bn) of net inflows in the second quarter.

In an interview with IPE just after he joined HSBC, Cheetham said the bank’s potential for growth in the defined contribution pensions market was huge as it had “all the elements” in place.

And he added that HSBC was punching below its weight in the pensions market.