HSBC names new chief for Singapore insurance operations
HSBC will appoint Ho Lee Yen as chief executive of its insurance operations in Singapore. The appointment is subject to regulatory approvals.
Ms Ho joins HSBC from AIA Singapore, where she was chief distribution officer.
She will report to Bryce Johns, global CEO of HSBC Life and insurance partnerships, and will also be part of the HSBC Singapore and HSBC Life Global executive committees, according to a press statement on Thursday.
Ms Ho's appointment follows HSBC's earlier announcement in August that it will fully acquire AXA Insurance Pte Limited, subject to regulatory approval.
If completed, HSBC plans to merge AXA Singapore's operations with HSBC Insurance (Singapore) Pte Ltd, with further approval from Singapore's regulator and the courts.
Ms Ho has more than 25 years of experience in the insurance industry from a variety of senior executive roles across actuarial, partnership distribution, marketing, customer solutions and propositions as well as agency distribution.
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HSBC chief executive Kee Joo Wong said Singapore is a strategically important market for HSBC globally and a gateway to South-east Asia.
"A key pillar in our wealth growth ambitions is to support individuals, companies and their employees with their health and wealth needs," he added.
Separately, on Wednesday, HSBC Asset Management announced the appointment of a new Singapore-based direct real estate team as part of its strategy to build out its alternatives businesses.
The team will be led by Victoria Sharpe, managing principal and head of real estate, Asia Pacific. In the team are also Lionel Low and James Bartlett, who joined as managing principals on Aug 2 and will report to Ms Sharpe.
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