Head of ETF Capital Markets

Last updated 2 hours ago
Location:Greater London


Role Title: Head of ETF Capital Markets

Role Purpose
  • The role of Head of ETF Capital Markets is focused on driving the HSBC ETF platform liquidity strategy and the client execution quality, two important focus areas to accelerate the growth of the HSBC ETF business. The individual will also play an instrumental role in the sales process of ETFs as well as in defining and driving the development of the ETFs’ primary and secondary market structure and platform developments.
Key Accountabilities
Impact on the Business:

Lead the HSBC ETF Capital Markets offering:

  • Lead the HSBC ETF Capital markets offering, including improvements to market structure, product, investment processes and improvements to the client offering
  • Lead coverage of existing ETF authorised participants and market makers’ community and lead the on boarding of new APs. Proactively manage and further develop relationships with authorised participants, market makers, brokers, ETF trading desks and exchanges.
  • Help to lead the ETF business growth plan by actively participating, coordinating and driving key initiatives and projects within Capital Markets and across functional groups
  • Support the day-to-day activity of the ETF Capital Markets desk by handling requests of APs and Market Makers, overseeing the daily primary market trading and monitoring real time secondary market volumes, flows and spreads
  • Formulate and proactively communicate investment opportunities and sales propositions
  • Acting as a spokesperson for ETF Capital Markets topics with both internal and external stakeholders
  • Maintain, improve and develop internal and external ETF Capital Markets reports
  • Maintain a deep awareness of industry trends and sound knowledge of the regulation relevant to ETFs

Lead ETF Capital Markets offering to Internal and External Clients and ETF community

  • Lead the effort to guide clients through the ETF execution phase of their journey ensuring clients are fully supported on all liquidity / trading aspects of HSBC ETFs.
  • Collaborate closely with ETF Sales to assist and provide insight and education to clients on ETF trading best practice, explaining liquidity and product features of ETFs as an investment vehicle
  • Lead trade client identification process
  • Proactively communicate sales propositions and investment opportunities and engage with ETF Sales to generate and follow up on opportunities.
  • Proactively seek to help sales find new ways to approach and add value to clients
  • Centre of expertise for all client queries relating to market structure, ETF liquidity and ETF trading.
  • Work closely with the investment team(s) on the day-to-day as well as on key initiatives and projects and act as an intermediary between the investment team(s), the APs and the custodian to ensure a smooth creation/redemption process
  • Regularly collect and analyse ETF data to produce relevant contents for topical market and strategy updates to both internal and external audiences
  • Manage business processes and operational requirements of the ETF Capital Markets function by working closely with operations, IT, data team and the ETF custodian
  • Help oversee the digital integrity of HSBC ETFs data on both internal platforms and external data vendors
  • Help oversee the messaging and provide contents for marketing materials and RFPs

Product Development and Strategy

  • Help to lead the evolution of the ETF Capability (e.g. fund launches, re-organisation, product and platform enhancements), act as a key resource for platform enhancements including fund launches, ensuring that all products are considered from a Capital Markets viewpoint and are fit for purpose
  • Maintain solid understanding of competitive positioning of HSBC Global Asset Management versus other providers in the ETF space.
  • Identify key industry trends and use these to ensure HSBC ETFs remains aware and adapts to ETF market developments
Customers / Stakeholders
  • ETF Clients both internally and externally
  • APs, market makers and ETF broker community
  • ETF Sales team
  • Wholesale and institutional sales teams
  • ETF Portfolio Management team
  • ETF Strategy team
  • ETF Product Development team
Leadership & Teamwork
  • Senior member of the ETF team
  • Senior member of the Global Product Team
  • Manage and lead the ETF Capital Markets team
  • Working collaboratively with wider ETF teams including product, investment and operation teams

Major Challenges

  • Managing multiple targets across areas simultaneously from improvements to the platform and new project, while meeting aggressive sales and AUM growth targets.
  • Managing complexity of the business across multiple client/regulatory jurisdictions
  • Balancing the demands of multiple stakeholders, in particular those in distribution, product and investment within AMG
  • Staying up to date with the finance market and external investment opportunities, as well as internal initiatives
  • In a fast changing asset management and client landscape, regularly reviewing the Capital Markets set up to ensure it continues supporting the scale required to further attract larger investors with size constraints and achieve economies of scale for the range.
  • Staying abreast of the impact of technology, market compression and increased competition for commodities investment products.
  • Ensuring compliance with a changing regulatory environment with general regulator unease about ETF liquidity and growth of index tracking strategies.

Role Context

  • ETFs are a key growth area for HSBC Global Asset Management. The ETF industry is growing rapidly with strong competition amongst an increasing number of market players.
  • In this context, the ETF Capital Markets team contributes to the success of the HSBC ETF range in a crucial way, by bringing clients to the point of trade, working closely with sales, external ETF market makers and investment.
  • This position sits within the Global COO function, reporting locally to the Head of ETF Capability.

Role Dimensions

  • HSBC Global Asset Management currently manages over USD 529 billion assets with USD 65 billion in index and active systematic investments, out of which USD 9.4bn are in ETFs. Developing our ETF business is one of HSBC’s key priorities with 5-year accelerated growth and market share targets.
Management Risk
  • Is aware of Operational Risks associated with the role and acts in a manner that takes account of operational risk considerations

Observation of Internal Controls

  • Maintains HSBC internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators
  • Understands, follows and demonstrates compliance with all relevant internal and external rules, regulations and procedures that apply to the conduct of the business in which the jobholder is involved, specifically Internal Controls and any Compliance policy including, inter alia, the Group Compliance policy
  • Understand the Treating Customers Fairly (TCF) principles, HSBC Global Asset Management’s TCF philosophy and how this affects your role. Act in a manner that takes account of these principles to ensure fair outcomes for customers