HSBC Global Asset Names Ankarcrona Head of Asia Sovereigns, Supranationals

HSBC Global Asset Management, a unit of Europe’s largest bank, named Sten Ankarcrona as head of sovereigns and supranationals in Asia-Pacific to help attract business from government and international organizations.

Ankarcrona’s appointment will become effective Sept. 1 and he will be based in Singapore, the unit of HSBC Holdings Plc said in an e-mailed statement. HSBC Global Asset Management oversaw $411.2 billion globally at the end of June.

“The sovereign and quasi-sovereign entities, which make up the majority of institutional assets in Asia-Pacific, are strategically critical to growing our regional institutional business,” Rudolf Apenbrink, HSBC Global Asset Management’s Asia-Pacific chief executive officer, said in the statement.

Ankarcrona will move from Stockholm where he was managing director of HSBC Global Asset Management for the Nordic region. He will report to Patrick Tse, CEO of HSBC Global Asset Management in Singapore, Julie Koo, the unit’s Hong Kong-based head of institutional business in Asia-Pacific, and Cynthia Barnes, global head of sovereigns and supranationals who hails from London, the statement said.

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