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HSBC Global Asset Management has appointed Guy Morrell as head of its multi-manager business for the UK and Middle East North Africa.

In this position, Mr Morrell will take charge of developing HSBC multi-manager's presence across the UK and Middle East North Africa region.

Mr Morrell, who joined HSBC in 2004, is currently in charge of the seven-strong global real estate investment team within multi-manager, and will retain this role.

He remains lead manager on the HSBC Open Global Property fund, a fund of funds, launched in November 2007.

As head of the multi-manager business for the UK and Middle East North Africa region, Mr Morrell replaces James Hughes. Mr Hughes is relocating to Hong Kong, where he will be head of multi-manager, Asia-Pacific, for HSBC. Mr Hughes also retains the role of global head of business development for HSBC's multi-manager team.

Mr Hughes previously managed the HSBC Open Global Return fund, but stepped down from this role in March 2008 to concentrate on his business development duties.

Mr Morrell said: "HSBC has one of the world's largest multi-manager businesses, with global reach across a range of asset classes including equity, fixed income and real estate. The appointment of dedicated business heads for important global regions further reinforces HSBC's credentials as a leader in this field."

Both Mr Morrell and Mr Hughes report to Joanna Munro, chief executive of HSBC multi-manager.

Raphael Sobotka, head of multi-manager investments for Europe, retains investment responsibility for Europe, Middle East and Africa for asset classes other than real estate.