He succeeds Bryce Johns, who will pursue an opportunity outside of HSBC.
HSBC has appointed Greg Hingston as global CEO, HSBC Life and Insurance Partnerships, with effect 1 January 2022, according to a statement on Wednesday.
Hingston was most recently the Asia Pacific head of its new wealth and personal banking (WPB) unit, a role he assumed in March 2020. He joined HSBC in 2006 and 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.
Key Growth Engine
Globally, HSBC's insurance business contributed to about one-third of overall WPB profits and around 12 percent of Group profits in the first half of 2021. In August 2021, HSBC Life announced the acquisition of AXA Singapore, the first acquisition for the group in 10 years.
In the statement, Nuno Matos, chief executive, WPB, said the insurance business is a «key growth engine for WPB and a critical part of our strategy to become the leading wealth manager in Asia.»
«[The appointment] provides a solid foundation to continue to transform and exponentially grow our insurance franchise as we aim to scale up our wealth capabilities globally, particularly in the Greater Bay Area, mainland China, ASEAN and India,» Matos said.
