HSBC Global Asset Management (GAM) has hired Lane Prenevost as global head of discretionary asset management and head of UK multi-asset, as current head of the multi-asset team in London Ashley Reid departs the firm to pursue other opportunities.
Based in London, from 1 September Prenevost will report directly to Jean Charles Bertrand, global CIO, multi-asset, and will be responsible for the multi-asset team in the UK, while also enhancing the firm's global discretionary asset management proposition for clients across the business.
Prenevost brings nearly 25 years of experience to the role, most recently as global head of wealth investments for HSBC Wealth and Personal Banking.
He joined the HSBC Group in 2005, during which time he also held senior investment roles including global head of wealth and multi-asset product. Before this, he spent 12 years at TD Asset Management.
Bertrand said: "Multi-asset is a key capability of HSBC Global Asset Management and Lane's appointment will allow us to maintain our commitment to managing these assets with the skill, expertise and stewardship that our clients expect."