French HSBC chief quits for Edmond de Rothschild

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Edmond de Rothschild is set to make one of its most high profile hires of recent years with Laurent Tignard joining the firm from rival group HSBC Global Asset Management, Citywire Global can reveal.

A source close to the situation said Tignard, the managing director of HSBC Global AM in France, is joining the group as its global head of asset management.

Tignard had been heading up HSBC’s Paris asset management office since 2010. Prior to that he was the managing director of Halbis Capital Management between 2005 and 2010.

The appointment is the first major hire the group has made since it announced it was merging its asset and investment management units, EDRAM and EDRIM, in July last year.

In the past few months there have been a number of high profile departures from the group, the latest being EDRAM’s head of asset allocation, Françoise Rochette, who left the firm to join French boutique Mandarine Gestion.

EDRAM's bond chief also left to join fellow boutique Tikehau Investment Management while its former chairman, Philippe Couvrecelle, has launched his own consultancy and advisory firm.