HSBC’s London-based asset management division has appointed Michael Cross for the chief investment officer role at the firm’s global fixed income unit.

As of 1 September, Cross will be CIO for HSBC asset management’s global fixed income team, which as of 30 June managed $171bn in assets, with more than 160 investments professionals worldwide. Last year, the bank’s asset management division set out its strategy to reposition the business with a focus on specialist emerging markets.