HSBC’s UK ETF Sales Head Resigns After Seven Years

HSBC Asset Management’s UK head of ETF and index sales, Bhavick Patel, has resigned after more than seven years at the firm, according to ETF Stream. His next role has not been confirmed. Patel previously spent 11 years at Source and Invesco, following earlier sales positions at Capital Group and BlackRock’s iShares business. His departure adds to changes across HSBC’s ETF sales team: APAC ETF sales head Jacqueline Pang left for State Street Investment Management in July, while Alex Boggis joined from DWS in June as ETF and index business development director after James Grogan moved to Invesco late last year. HSBC has advertised Patel’s former position and reportedly contacted ETF sales heads at other firms. His tenure included HSBC’s expansion into listed share classes of fixed income funds, including two money market funds holding $51 billion when ETF share classes were added.