HSBC appoints Greg Hingston as Global CEO HSBC Life and Insurance Partnerships
Greg Hingston is appointed Global CEO, HSBC Life and Insurance Partnerships with effect 1 January 2022.
He succeeds Bryce Johns, who has decided to pursue an opportunity outside of HSBC.
Nuno Matos, Chief Executive, Wealth and Personal Banking (WPB), said: “We are extremely pleased to have Greg lead our insurance business globally, a key growth engine for WPB and a critical part of our strategy to become the leading wealth manager in Asia. Under Greg’s leadership of WPB in Asia, we have achieved record financial performance in key areas, gained market share and most importantly, significantly enhanced the range of wealth, international and digital services to benefit the full spectrum of our customers in the region. This provides a solid foundation to continue to transform and exponentially grow our insurance franchise as we aim to scale up our wealth capabilities globally, particularly in the Greater Bay Area, mainland China, ASEAN and India.”
Greg Hingston said: “I am delighted to take on this new opportunity, to strengthen our position as a leading global bancassurer that serves the full breadth of our client relationships across the Group and continue to contribute towards becoming a leading wealth manager globally, particularly in Asia, where we aim to build leading health and wealth insurance platforms and propositions.”
In his new role as Global CEO, HSBC Life and Insurance Partnerships, Greg will be responsible for leading and growing HSBC’s insurance business, which globally, contributed around a third of overall WPB profits and around 12% of Group profits in the first half of 2021.
In the last two years, the Group has accelerated investments in HSBC Life, marking a number of milestones that will set up the business for future growth and expansion. In Hong Kong, HSBC Life regained market leadership as a bancassurer and led product and digital innovation with the launch of new digital health platforms, Olive1, Well+2 and Benefits+3. In mainland China, HSBC established Pinnacle, a new digitally-enabled mobile financial planning business that leverages the Group’s manufacturing capabilities in HSBC Life China. In the UK, HSBC Life is Top 3 in onshore bonds and Top 10 in external protection and critical illness. Recent investments in product platforms and systems in Me
o will help capture increased demand for protection, savings and retirement needs. In August 2021, HSBC Life announced the acquisition of AXA Singapore, the first acquisition for the Group in 10 years.
Greg has been with the HSBC Group for 15 years where he was previously Head of WPB Hong Kong, Regional Head of Retail Banking, EMEA, Head of Customer Value Management & Head of International for Retail Banking and Wealth Management in Europe, and Global Head of Strategy for RBWM. Earlier in his career, he spent five years at Prudential Corporation Asia Ltd where he led Business Development, Strategic Planning and M&A.