HSBC has appointed a new Chief Executive Officer for its business in Singapore. The bank is considered one of seven domestic systemically important banks in the Lion City.
With effect from 3 April, 2017 Tony Cripps will succeed Guy Harvey-Samuel, who will retire from HSBC after more than 38 years of service with the bank.
In his new role, Cripps will have responsibility for leading HSBC through its next phase of growth and investment in Singapore, the bank said in a press release.
A 30-year banker, Cripps (pictured above) is currently Chief Executive of HSBC Australia – a role he has held since 2013. Prior to this, he held several positions with HSBC including Chief Executive of HSBC in the Philippines and leadership positions in HSBC’s Global Banking and Markets business in London and Hong Kong.
He was also appointed on to the Board of HSBC Bank (Singapore), as a non- executive director, in 2016. Last year the British banking giant subsidiarised its Retail Banking and Wealth Management business in Singapore (RBWM Business)
One of Seven
The move involved the transfer of the RBWM Business under the current HSBC Singapore Branch to a locally incorporated subsidiary, HSBC Bank (Singapore) Limited. The Subsidiary thereafter overseeing the running of all operations of the RBWM Business in Singapore.
HSBC Singapore Branch’s move followed the announcement by the Monetary Authority of Singapore in April 2015 that HSBC is considered one of seven domestic systemically important banks (D-SIBs) in Singapore.
