The unit, the result of a merger of the bank's Retail Banking and Wealth Management and Global Private Banking businesses, has its sights on China's growing wealth.
HSBC has appointed Greg Hingston as the Asia Pacific head of its new wealth and personal banking (WPB) unit, effective 1 April, the bank said in a statement on Tuesday.
Hingston joined HSBC in 2006 and is currently head of wealth and personal banking, Hong Kong. He has held a number of leadership roles at the firm, including global head of strategy for retail banking and wealth management, head of customer value management and head of international, RBWM Europe, and regional head of retail banking, EMEA.
As head of HSBC's retail business in Hong Kong, Hingston was instrumental in advancing mobile banking and digital investment capabilities, and drove the growth and evolution of its customer experience, including the bank's social payment platform PayMe, the statement said.
Key Region
In his new role, Hingston will lead the bank's efforts in growing its customer base in the Greater Bay Area and Asean, as it targets China’s growing wealth both at home and abroad.
The bank's combined wealth business has $1.4 trillion in assets under management, with nearly half of those assets in Asia. Revenue from Asia in the wealth business rose by 12 percent to $5.7 billion last year.
