The two new board members will help the bank accelerate its business transformation in Singapore and deepen its foray into the digital space.
HSBC Bank (Singapore), the local subsidiary of HSBC that includes retail banking and wealth management businesses, is adding Penny Goh and Josh Bottomley to its board of directors, the firm said in a press release on Wednesday.
Goh is a co-chairman and senior partner of Allen & Gledhill, and leads the law firm's corporate real estate practice. With the appointment, she will become a member of HSBC Singapore's Audit and Risk committees. Bottomley (pictured below) is HSBC's global head of Digital, Retail Banking and Wealth Management, a role he has held since May 2013. He has also held various senior appointments at Google and LexisNexis.
Josh Bottomley, global head of Digital, Retail Banking and Wealth Management, HSBC
HSBC said in June 2018 that Singapore was one of eight priority markets globally. In September 2018, HSBC Singapore said it would double the overall combined retail and private banking total wealth and hire more than 400 retail and private banking customer-facing employees over five years.
Wealth Strategy
«Singapore is a growth market for HSBC and one where we want to build scale, and both appointments have a very strong and significant connection in support of delivering the strategy,» Mukhtar Hussain, HSBC Singapore chairman and HSBC’s Asia Pacific head for Belt and Road Initiative, said about the appointments.
«Together, both will bring a very strong blend of experience, expertise and ambition in the oversight of HSBC’s Retail Banking and Wealth Management business in Singapore. Moreover, the appointment of such high-caliber individuals reflects the importance and rising prominence of the Singapore franchise for HSBC globally,» Hussain added.
Earlier this month, HSBC CEO John Flint, 51, announced his sudden departure after being at the helm for only 18 months, saying the bank needed a change at the top to address the «challenging global environment.» In the meantime, Noel Quinn, HSBC's head of global commercial banking is holding the role of interim CEO.
