HSBC rejigs alternative investments

HSBC Asset Management is to regroup its alternative investment unit and has plans to launch a single manager hedge fund business later this year. The planned head of the new business is Bill Maldanado, director of the alternative investment unit, specialising in derivatives at the group, who worked in the past on structured products and capital guarantee wrappers around some of HSBC's products. It is likely the business will offer capital guarantee wrappers around single manager hedge funds based on some of HSBC Asset Management's more successful long-only managers. The group has a ...