HSBC Global Asset Management (HSBC GAM) has appointed Dan Rudd as head of wholesale for the UK, effective from April.

Rudd is currently head of wholesale for the MENA region, having joined the group in 2005 as head of Global Life and later head of UK external distribution. Prior to joining HSBC, he worked for Deutsche Asset Management and commands over 20 years’ experience in the industry.

In his new position, Rudd will be responsible for growing HSBC’s wholesale business and the advisory offering at the head of a ten-person team based across the UK. He replaces Phil Reid, who left HSBC in February to join Royal London Asset Management as head of wholesale.

Rudd will report directly to Andy Clark, CEO of HSBC GAM in the UK, who said of the hire: “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.”

As of December 31 2015 HSBC GAM manages assets totalling $424bn. Its latest UK retail product launches were three multi-asset funds in September.