Bermudian Faith Outerbridge has been appointed as Chief Investment Officer (CIO) for HSBC's America's cash management/liquidity business, recognising the success of Bank of Bermuda's $10 billion Corporate Money Fund.

"The liquidity business is one of the fastest growing segments of the global asset management business and a key product for the Bank of Bermuda," Gonzallo Jalles, Managing Director of HSBC Investments (Bermuda) Limited said.

Bank of Bermuda's $10 billion Corporate Money Fund, managed locally from its inception in 1997, comprises high quality short term fixed income instruments such as bonds, alternative and cash asset classes.

"Faith's appointment and Bank of Bermuda's enhanced role in the region only confirms our strength within the HSBC Group. Bank of Bermuda set a goal to become a centre of excellence in investment services and we are clearly on the way to achieving that goal."

Ms. Outerbridge said a wide range of clients use short term fixed income instruments for a variety of purposes and many reinsurance companies in Bermuda use these products as a cash management tool.

She will play a key role in overseeing the Group's US dollar cash management/liquidity business and she will be liaising with the New York Liquidity team, working closely with Guillermo Konecny, CIO HSBC Investments USA.

Ms. Outerbridge will be responsible for coordinating the ongoing global liquidity investment activity between the New York and Bermuda offices and she will monitor the application of strategy across all portfolios.

Having worked for Bank of Bermuda for the past nine years, with over 13 years experience in managing liquidity funds, she will also aid the development and implementation of the Global Liquidity Process.