Appointment of new head of retail prompts product launch from HSBC

HSBC is to introduce a cash-plus product to the intermediary market, similar to DWS Ratebuster, following the hiring of Andy Clark as head of retail plus four other ex-DWS sales staff. HSBC's head of distribution Geoff Cheetham said the hires are aimed at refocusing the group's message to advisers on its core strengths. These areas include Far East and emerging market equities and bonds as well as UK products, such as Bob Morris' UK Freestyle fund. Also, HSBC's structured product branch Sinopia has the derivatives experience needed for a cash-plus product. Creating the alpha-focused Hal...