HSBC Bank (Singapore) has, on June 9, appointed its new CEO, Wong Kee Joo, as executive director to its board following his appointment as CEO on June 1.
Wong comes with over 26 years of banking experience across different markets including the UK, Thailand, Hong Kong and China.
Prior to his appointment, Wong was most recently HSBC’s regional head of global payments and cash management for the Asia Pacific region, and has been in the role since January 2015.
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The bank, on the same day, announced that it has also appointed Winston Ngan, who has retired as a partner of Ernst & Young Singapore (EY) as an independent non-executive director and chairman of the audit committee.
Ngan, too, comes with over 26 years of professional services experience including roles with EY in Singapore and Canada.
Before his retirement, Ngan led the EY financial service assurance practice overseeing 1,300 audit professionals across Asean.
Ngan was also a member of the EY Leadership team managing the financial services assurance practices across Asia Pacific.
Muktar Hussain, chairman of HSBC Bank (Singapore) and HSBC’s group general manager, head of belt & road initiative and business corridors in Asia Pacific, says, “Our commitment to Singapore as a strategic priority market for HSBC remains unchanged. As we head into our next phase of growth, Kee Joo’s extensive regional experience in wholesale banking will further strengthen our ability to tap HSBC corporate clients’ personal banking and wealth needs for growth.”
“Winston’s deep knowledge of Singapore’s banking regulatory requirements will ensure that we have a robust audit framework and the necessary internal controls in place. One that not only supports accelerated business growth, but also enable us to nimbly mitigate new challenges as our business evolves and undergoes transformation,” Hussain adds.
In the same statement, the bank revealed its aim to double the total wealth balances of its Wealth and Personal Banking business in the next five years.
To date, HSBC is Asia’s leading bank across the wealth continuum with combined assets under management (AUM) of US$488 billion ($645.85 billion).
In 2020, Asia generated nearly half of HSBC’s US$1.6 trillion in wealth balances and 65% of the group’s wealth revenues.
Cover photo: Bloomberg
