Moreau (pictured) was most recently CEO of DWS, the asset management arm of Deutsche bank. He will join HSBC in September and be based in London.
After seven years as CEO, Sri Chandrasekharan will be moving into another senior role within the HSBC Group.
Charlie Nunn, CEO of retail banking and wealth management, HSBC, said: “Asset management is a key area of focus for us and one we are committed to growing in line with increased client demand for products and solutions that help meet their long-term financial ambitions.
HSBC Global Asset Management passed the $500bn threshold for its assets under management this year, and Nicolas is the ideal candidate to lead the business going forward.”
Prior to DWS, Moreau was chairman and chief executive of AXA France.