HSBC to tap $2trn Japan pension sector

HSBC Asset Management is vying for a slice of the $2 trillion (Dh7.34trn) Japanese pension market, a senior executive said, aiming to broaden the fund manager's traditional focus on Japanese retail customers.

The fund management arm of Britain's largest lender, HSBC Holdings, planned to make senior hires in Japan and boost the support team elsewhere, said its head of institutional business in Asia-Pacific, Patrice Conxicoeur, yesterday.

"We are serious about this. So even if the hiring takes a few weeks or months, it doesn't matter. Its better than hiring the wrong people," said Hong Kong-based Conxicoeur.

The fund manager recently hired Julie Koo, a 15-year veteran from Fidelity, as head of institutional sales, Asia-Pacific.

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