HSBC Global Asset Management

Schroders has expanded its £76bn multi-asset team further with two hires as it focuses on building this part of the business.

Heartwood Investment Management has hired Marian Black from Baring Asset Management to head up its investment marketing.

The upgrade of two major frontier markets to emerging market status led to a significant increase in turnover for the HSBC Frontier Markets fund last year.

HSBC Global Asset Management's Caroline Hitch is reducing exposure to equities in favour of credit in the firm's $8bn World Selection portfolios as she fails to find "compelling" valuations for shares.

Joseph Molloy, global head of index equities at Legal & General Investment Management, has joined HSBC Global Asset Management as head of passive equity.

Three members of senior staff at Ashcourt Rowan are to exit as its takeover by Towry is finalised.

HSBC Global Asset Management's chief executive Andy Clark is ruling out introducing preferentially priced share classes, saying they are akin to "endorsements" of individual platforms.

Jamie Frere-Scott has joined Ashcourt Rowan as funds director after less than a year as head of research at life insurer Mobius Life.

LGM Investments (formerly Lloyd George Management) has reopened its LGM Frontier Markets strategy to investors following a dip in assets.

Ashcourt Rowan has grown its investment team after hiring two investment directors from HSBC Global Asset Management.