HSBC Private Banking announces Two Senior Appointments in Singapore
HSBC Private Banking in Singapore has announced the appointment of Ken Ng as Market Head for Singapore, and Gary Goh as Market Head for Malaysia for HSBC Private Banking.
These appointments support HSBC’s sharpened focus to become the leading wealth manager in Asia and signal continued investment in talent to deliver on its growth agenda, the firm said in a press release.
Earlier this year, HSBC announced the launch of a new global business, Wealth and Personal Banking, combining Retail Banking and Wealth Management and Global Private Banking, to become one of the world’s largest global wealth managers with USD1.4 trillion in wealth balances, with nearly half from Asia.
Wealth and Personal Banking covers the entire spectrum of private wealth, from retail clients to ultrahigh net worth (UHNW) individuals. HSBC will continue to invest in its wealth management business globally, with a particular focus on Asia, including Hong Kong and mainland China (especially the Greater Bay Area) as well as South-East Asia, some of the world’s fastest growing economies and wealth pools.
These appointments also underscore efforts to cement Singapore’s role as a prime international wealth centre, supported by HSBC Singapore’s continued focus on growth, particularly to double overall combined retail and private banking total wealth over five years.
Philip Kunz, Head of Global Private Banking, Southeast Asia, HSBC Private Banking, said: “Southeast Asia is home to some of the fastest growing economies spurring a next generation of wealthy entrepreneurs. Singapore and Malaysia sit at the nexus as many entrepreneurs look to expand regionally. I am confident that with the leadership, expertise and experience of Ken and Gary, we will provide a distinctive experience to meet our clients’ private wealth needs and accelerate progress in our strategy.”