HSBC names new French CEO after ex-chief's Rothschild exit

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HSBC Global Asset Management has appointed a successor to Laurent Tignard, the former head of the group's French business.

As of April 1, Matteo Pardi is the new CEO of HSBC Global Asset Management (France) and will also join the executive committee of HSBC France.

Pardi has been with the HSBC group for over a decade, having joined in 2001 to create HSBC Global Asset Management's Italian affiliate.

In 2007 he was appointed head of asset management for southern Europe and in 2011 became head of distribution for continental Europe.

His appointment comes following the departure of former CEO Laurent Tignard (pictured), which Citywire Global first revealed in mid-February was joining the Edmond de Rothschild group as its global head of asset management.

In his new role Tignard joins forces once again with the group's CEO Christophe de Backer, with whom he worked alongside at HSBC.

Tignard had been heading up HSBC’s Paris asset management office since 2010 and before joining them was the managing director of Halbis Capital Management between 2005 and 2010.