HSBC Global Asset Management (HSBC GAM) has appointed Joanna Munro as its new global chief investment officer (CIO).

Munro, who is currently the chairperson of HSBC GAM UK, will replace Chris Cheetham who will be retiring by the end of September this year.

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In her new role, Munro will report to HSBC GAM’s global CEO Nicholas Moreau.

Munro joined the British banking giant in 2005 as global CIO of the HSBC Investments division. She also served as chief of product and chief executive of the business’ Asia Pacific operations.

Commenting on the move, Moreau said: “Joanna’s ability to encourage global collaboration, track record in bringing people together and attitude towards problem-solving makes her the ideal candidate for this role.

“I am confident that with her extensive, global experience we will be in an even stronger place to help clients meet their investment objectives.”

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This is the first major reshuffle by Moreau, who joined the firm earlier this month. He was previously chief executive of DWS, the asset-management arm of Deutsche Bank.

Moreau headed DWS since 2016. Previously, he worked as the chairman and CEO of AXA France and group CEO of AXA UK and Ireland.

He succeeds Sri Chandrasekharan, who was at the helm of HSBC GAM for seven years.

Last month, the banking group’s CEO John Flint stepped down after holding the role since last February.