HSBC Global AM names first Asia credit research head

HSBC Global Asset Management has hired Elizabeth Allen as Asia-Pacific head of credit research from rating agency Moody’s Investors Service.

Based in Hong Kong, Allen left the rating agency last month to take up the newly created role on October 4. She now heads the regional team of credit analysts – which is four-strong, including her – and HSBC plans to add a fifth before the end of the year.

Before Allen's appointment, Jim Veneau, investment director for fixed income and previously the most senior member of the credit team in Hong Kong, had covered both credit research and portfolio management, but will now focus solely on the latter. 

Allen reports to Cecilia Chan, HSBC Global AM’s Asia-Pacific chief investment officer for fixed income, who oversees $25 billion in assets under management regionally.

Chan tells AsianInvestor the appointment will result in increased coordination with the global team of credit analysts, with Allen acting as the Asia contact point.

“The Asian bond market has grown rapidly in recent years with the rise of Asian high-yield bonds and RMB bonds as the key developments,” says Chan.

“Elizabeth’s strong background in the credit industry will help to further strengthen our Asian bond capability to capture the growing opportunity in this asset class,” she adds.

Allen has 15 years of industry experience. Before joining HSBC, she was a senior credit officer at Moody’s. Before that, she worked for Fitch Ratings, Credit Suisse First Boston and other financial institutions.

Moody's declined to comment on whether Allen had been or would be replaced.