HSBC has appointed a veteran banker as chairman of its Singapore subsidiary. He will work closely with the CEO of the bank to grow the local unit.
HSBC Singapore appointed Mukhtar Hussain as chairman effective this week, the company said in a statement. The local subsidiary of HSBC includes the retail banking and wealth management business in the city-state. It was formed when the bank incorporated its retail operations in May 2016.
«Mukhtar's presence, experience and counsel will go a long way to support our three-year growth plans – not just for retail banking – but across all of our business lines,» said Tony Cripps, chief executive officer of HSBC Singapore.
Regional Knowledge
On the consumer banking side, HSBC will tap on Mukhtar's regional knowledge to provide oversight of the bank's strategy to capture the personal wealth that is flowing from Asean markets into Singapore.
«On the institutional side, his role in spearheading HSBC’s regional activity in support of BRI will be invaluable in advising Singapore on how it can further position itself as a strategic partner of this multi-decade investment programme,» said Cripps.
