LGIM global index head Molloy joins HSBC GAM

Joseph Molloy, global head of index equities at Legal & General Investment Management, has joined HSBC Global Asset Management as head of passive equity.

Molloy, who had been at LGIM in November 2009, began his role earlier this month and reports to Vis Nayar, deputy chief investment officer for equities. HSBC said his appointment reflects the importance of passive strategies to the firm. ETFs, index trackers and smart beta products make up a third of the firm's equity assets under management. Prior to his role at L&G, Molloy worked at Northern Trust Global Advisors and State Street Global Advisors.  Nayar said: "With Molloy as our head of passive equity, our passive management capabilities will be further developed and taken to the...