HSBC has announced the appointment of a head of wealth and personal banking for South Asia.
Kai Zhang joins HSBC as head of wealth and personal banking (WPB), South Asia, according to a statement, effective June 26. Based in Singapore, Zhang reports to WPB chief executive Nuno Matos and APAC co-CEO Surendra Rosha.
In the role, Zhang is responsible for accelerating WPB’s expansion in South Asia across eight markets: Singapore, India, Taiwan, Australia, Malaysia, Indonesia, Vietnam, the Philippines. She will also focus on deepening connectivity between WPB in South Asia and HSBC’s wholesale banking franchises as well as its global network.
Manulife-Sinochem Life Insurance Company
Zhang has over 25 years of financial services experience in North America and Asia, including leadership roles at Citi and McKinsey & Company.
She was most recently working at Manulife-Sinochem Life Insurance Company as its CEO and general manager since 2016.
WPB in South Asia
In South Asia, HSBC’s WPB unit has recorded double-digit percentage increases in invested assets, net new invested assets and wealth management revenues in 2022.
Invested assets in Singapore and India, for example, grew 22 percent and 215 percent, respectively, in 2022. During the same period, international accounts from customers who are new to the bank increased by more than 50 percent.
«[South Asia’s] economic dynamism and demographic profile are fuelling wealth creation and uplifting communities, providing long-term opportunities that are squarely within our reach. It’s an exciting time to grow with our customers in these markets and we’re committed to deepening our investments in the region,» Matos said.
