Joseph Molloy joins HSBC GAM as head of passives

HSBC towerHSBC Global Asset Management (HSBC GAM) has appointed Joseph Molloy as head of passive equity.

Molloy will be based in London and will report to Vis Nayar, deputy chief investment officer for equities.

His responsibilities include the indexation and exchange-traded funds portfolio management team, previously managed by Mark Hui, who left the firm to return home to Asia.

Prior to his appointment, Molloy was global head of index equities at Legal & General Investment Management and has also previously worked for Northern Trust Global Advisors and State Street Global Advisors.

With passive/beta strategies making up around a third of HSBC GAM’s overall assets under management in equity funds, the firm says Molloy’s appointment will play an important role in maintaining its business growth.

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