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Rudd returns to head HSBC UK wholesale sales

Rudd returns to head HSBC UK wholesale sales

Dan Rudd is set to return to HSBC Global Asset Management’s (HSBC Gam) UK office in April to take the role of head of UK wholesale.

Mr Rudd (pictured) has been head of wholesale for the Middle East and North Africa (Mena) for HSBC Gam since 2008. Before this, he was head of the UK external distribution team.

He will replace Phil Reid, who left HSBC last month to move to Royal London Asset Management (RLAM) as head of wholesale.

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In a reversal of the latest move, Mr Reid had replaced Mr Rudd in 2008 when the latter relocated to Dubai to take over the Mena business.

Mr Rudd has been with HSBC since 2005, when he joined as head of global life after moving from Deutsche Asset Management.

He will lead a team of 10 upon his return to the UK, reporting to HSBC Gam’s chief executive officer Andy Clark. He will be responsible for expanding the wholesale business and growing the company’s advisory proposition.

Mr Clark said: “Dan has over 20 years’ experience and he will be a valuable addition to the team. With last year’s pension changes, the role of intermediaries has become more important than ever and it is essential we continue to provide advisers with high-quality advice and products.”

HSBC Gam’s most recent UK retail product launches include three multi-asset funds in September last year. The firm is increasingly known for its passive strategies.

Mr Rudd added: “The intermediary market remains a key focus for HSBC Gam and I look forward to developing this area further.”

At RLAM, Mr Reid is set to take up his new role in mid-March. He is expected to expand distribution beyond clients including wealth managers and multi-managers, with a focus on “broadening into the advisory space”.

Mr Reid’s appointment came after RLAM’s former head of wholesale Ian Goulsbra left the company last year to join Canada Life Investments.