HSBC Asset Management hires AXA investment chief
UK – The global chief investment officer of AXA Investment Managers, Chris Cheetham, has left to take up the same role at HSBC Asset Management.
Cheetham replaces Bryce McDonnell who has retired. Cheetham will be responsible for the global investment strategy and process, as well as its investment team of around 250 staff worldwide. He will report to Alain Dromer, global chief executive.
Cheetham joined AXA in 1996, and most recently was co-head of securities of investment management in addition to being global chief investment officer.
Taking over from him in the interim will be his counterpart, Robert Kyprianou, co-head of securities investment management on the business management side.
AXA Investment Management has experienced a huge reshuffling over the last twelve months as part of a restructuring plan. The global equities business is in the final stages of being transferred to AXA Rosenberg. Last week saw two more of the global equities fund management team leave with the departure of William Hamlyn and Stephen Williams for Citigroup Asset Management.
Several changes at senior level have also occurred at AXA IM over the last twelve months. Nicolas Moreau, global chief executive officer, took over the UK chief executive role from Virginia Holmes, who then left in December. In France, chief investment officer in Paris, Thierry de Heuvels left in the summer to be replaced by Christian Rabeau.
AXA Investment Managers has 270 billion euros in assets under management, 160 billion euros of which is invested in fixed income securities.