Cross, who starts in his new role on 1 September, joined HSBC Asset Management in 2015 as global head of official sector institutions and, most recently, held the position of vice-chair of the institutional business.
He succeeds and will report to global CIO Xavier Baraton, and will be based in London.
As part of his new responsibilities, Cross will chair the fixed income strategic forum and coordinate its investment outlook, scenarios, risks and themes.
As of 30 June 2021, HSBC Asset Management’s global fixed income team managed $171bn in assets.
Prior to joining HSBC, Cross worked at the International Monetary Fund for more than three years and, before that, spent 20 years at the Bank of England.
“With strong credentials in managing fixed income teams, Michael’s high calibre profile, fundamental focus and particular specialisation on FX and rates will further support our growing recognition as a leading global fixed income asset manager, complementing our well recognised expertise in credit, Asia and emerging markets debt,” Baraton said.
“Michael brings a strong client experience which will be decisive in our ongoing efforts to develop innovative, sustainable solutions for our clients globally.
“His visibility across the industry and experience in engaging with public sector clients will contribute to further strengthening our relationships with senior decision makers across all client segments.”