James Hughes, a senior executive in HSBC’s multimanager division, has been seconded to a job in Vietnam, prompting a reshuffle of senior management at the unit.

Hughes was head of HSBC multimanager for Asia-Pacific and in charge of global business development for the division. He flew from Hong Kong yesterday to Vietnam, where he will become chief executive officer of Bao Viet Fund Management, headquartered in Hanoi, from May 1. The asset manager looks after $1bn (€740m) of assets on behalf of its parent company Bao Viet Holdings, in which HSBC has a minority stake.