HSBC Receives Infrastructure Equity Team from AMP
AMP Capital, a Sydney-based finance manager, has arranged a seven-member listed infrastructure team for HSBC Asset Management.
The team comprises five members from the UK and two from Sydney. Giuseppe Corona, head of listed infrastructure equity, will lead the team and report to Joanna Munro, London-based CEO of HSBS Alternatives. The team of Mr Corona managed just under $2 billion in equity assets at AMP.
Macquarie Asset Management, a Sydney-based finance manager, bought AMP's global equities and fixed income business for $35.3 billion.
A spokesperson for AMP said Macquarie's listed equity infrastructure team will now manage the clients' assets at AMP, which Mr Corona oversaw.
AMP's news release said Macquarie Asset Management would pay AMP around A$63 million in cash upon completing the deal. AMP spokesperson refused to provide details regarding revenue targets.
The other members of HSBC Asset Management's new infrastructure equity team include managing principals Antonio Barbera, Andy Jones, Joseph Titmus, principal Michel Debs, investment specialist Jessica Nguy and senior analyst Xueting "Claire" Zhang.
