HSBC Holdings has hired Bill Maldonado as the new CIO for its global asset management firm in Asia, The Wall Street Journal reports. He will be active in his new role with immediate effect.

Currently, he is a strategy CIO in equities of the firm and will continue to retain his present role. As part of the new role, Maldonado will be relocated to Hong Kong from London.

Click here for the story from The Wall Street Journal.