HSBC has appointed Barbara Rupf Bee as chief executive to its dedicated hedge fund investment adviser, HSBC Republic Investments Limited (HRIL).


Barbara replaces Paul Dunning as chief executive, who is to continue as a consultant to HRIL and has been instrumental in developing the business into one that advises on 22 funds of hedge funds and a range of discretionary portfolios for ultra high net worth and institutional clients. 


Her remit is to develop HRIL's growing business as a global fund of hedge fund adviser to institutional investors.  


Rupf Bee, who will report to Gabriel Perahia, chairman of HSBC's Alternative Investment Group (AIG), was previously global head of sales and business development with AIG. She has worked closely with the senior management team, which remains unchanged, since 2003. HRIL currently manages USD 2.5 billion of discretionary assets. 


Rupf Bee joined HRIL from Union Bancaire Privée, Zurich, where she had been in charge of the products and sales department since November 2002. Prior to that, she spent nine years with the Julius Baer Group. In 1999, Barbara was appointed CEO of creInvest AG, a fund of hedge funds initiated by Julius Baer and listed on the Swiss Exchange. In the early part of her career, she worked for both Nomura Securities and JP Morgan.


"HSBC has been advising clients on hedge funds since the late 1980s and although we have established a strong reputation, we want to be at the forefront of the minds of consultants and institutional investors," says Perahia. "Barbara is highly experienced within the alternative industry.  We are confident that her proven track record will help consolidate HRIL as a major player in hedge funds and build on the strong foundations developed by her predecessor."


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