HSBC global bond head quits

The firm has replaced Dunham, who handed over responsibilities in January, with existing global bond team member Ernst Osiander.

Since joining HSBC in 2011, Dunham had expanded the fixed income team substantially. As well as managing the now nine-strong team, he had specific fund responsibilities and client-facing obligations.

Osiander, who joined HSBC in 2012, has also been a key figure, helping to develop a systematic investment process incorporating various fixed income teams around the world. As part of his new role, Osiander will also join the firm's global fixed income management group.

While Dunham's fund responsibilities will be shared out among the team, in the wake of the change, the £100m HSBC Sterling Income fund is to liquidate.

Partner Insight: Capitalising on the growing alternative lending market

Private Credit, a nascent and rising asset class for wealth portfolios but one that is close to ubiquitous amongst institutional investors, can offer stable, high yielding returns and reduced volatility compared to traditional fixed income, says Michael Massarano, Partner and Deputy CIO at Arcmont Asset Management, an investment-affiliate of Nuveen.

Michael Massarano, Partner and Deputy CIO at Arcmont Asset Management, an investment-affiliate of Nuveen

01 April 2025 • 6 min read