HSBC has hired an ex-Citi executive to lead its wealth and personal banking unit in Singapore.
Ashmita Acharya joins HSBC as its head of wealth and personal banking (WPB), Singapore, according to a statement, effective January 18 next year.
Based in Singapore, Acharya reports to HSBC Singapore chief executive Wong Kee Joo alongside Greg Hingston, global insurance and partnerships CEO as well as interim South Asia head of WPB.
Acharya has 20 years of international banking experience, most recently as Citi's retail banking head for Singapore. Previously, she was also the APAC head of retail segments at Citi.
WPB in Singapore
Within Singapore, HSBC is aiming to double its wealth management business by 2025 and achieve double-digit growth in commercial banking.
The British lender has earmarked $6 billion in investments over a five-year period for Asia with half allocated to South and Southeast Asia. In February, it completed the strategic acquisition of AXA Singapore to expand its insurance capabilities and accelerate the growth of its wealth business in the city-state.
