HSBC names LatAm chief to replace Munro

HSBC Global Asset Management has named Pedro Bastos as its new chief executive officer for Hong Kong and regional head for Asia Pacific.

He will replace Joanna Munro, who will vacate her post at the end of next month and move to London, where she will take up the newly created role of global head of fiduciary governance at HSBC.

Munro will remain a member of HSBC Global AM’s executive committee and will become a director on several fund boards. She will report to Sridhar Chandrasekharan, global CEO.

Bastos will vacate his posts of CEO for Brazil and regional head of Latin America, and subject to regulatory approval relocate to Hong Kong next month.

Alcindo Canto, currently head of distribution for Brazil, will take over as CEO there.

HSBC’s spokesman in Hong Kong said an announcement would be made in due course on the regional oversight of Latin America.

Bastos joined HSBC in Brazil in 2006, and has been a member of the Brazilian Financial and Capital Markets Association. Before joining, he spent nine years at First Trust Company in Minnesota, and was an equity analyst at Brazil's Unibanco.

He will report to Chandrasekharan and locally to Kelvin Martin, regional head of retail banking and wealth management for Asia Pacific.

AsianInvestor last week presented Munro with a commemorative plaque after being selected as one of the 25 Most Influential Women in Asian Asset Management.

She started her career with Prudential Portfolio Managers in the UK in 1986, and went on to work for American, Dutch and French institutions before landing at HSBC in 2005 as global CIO for part of its asset management business. She was promoted to her current role in May 2011.