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HSBC kicks off search for new asset management chief to replace Nicolas Moreau

Published Oct 19, 2026
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Summary:
  • HSBC has begun looking for a new CEO for its asset management unit to succeed Nicolas Moreau, according to people familiar.
  • The unit oversaw $928 billion at the end of June and booked about $755 million in first-half fee and other income, up 4.7% year over year.
  • Bank representatives have sounded out potential candidates, the people said, while an HSBC spokesperson declined to comment.

What happened

HSBC has begun approaching potential replacements for Nicolas Moreau to lead its asset management arm, people with direct insight into the process said. Representatives have been contacting prospects to gauge interest, and the bank is not commenting publicly.

Who is in the frame

Moreau, 61, has led the unit since 2019. His background includes two years running asset management at Deutsche Bank AG and a stint as CEO of AXA Investment Managers, per his LinkedIn profile. He reports to Barry O'Byrne, who, two years ago, was named to lead HSBC's International Wealth and Premier banking unit and is his line manager.

The business backdrop

HSBC Asset Management oversaw $928 billion at June's end, lagging investment arms at major European competitors including UBS Group AG and Deutsche Bank.

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Why it matters for investors

Since Moreau joined, the wider group has been reshaped under Georges Elhedery, who took over as CEO in September 2024 and has implemented a broad restructuring that resulted in sales, closures, or mergers involving several businesses, along with hundreds of job cuts. The bottom line: the leadership pick slots into an ongoing overhaul, which will shape how HSBC's asset manager competes for flows and fees.

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