HSBC Singapore appoints first independent board chairman

HSBC Bank (Singapore) on Wednesday (Feb 16) said it appointed a new independent chairman, Penny Goh, to its board, effective Feb 16.

Goh, who will serve as HSBC Singapore's first independent board chairman, succeeds Mervyn Fong as board chair.

Fong had served as the board's interim chair since August 2021, and will continue to serve as chair of the risk committee, as well as a member of the audit committee until his retirement from the board in April 2022, the bank said.

Goh was first appointed as an independent non-executive director of HSBC Singapore in August 2019, and is also a member of the bank's audit and risk committees.

She was formerly the co-chairman and senior partner of Allen & Gledhill, where she headed the law firm's corporate real estate practice.

Goh is also currently chair of the manager of Keppel Reit, an independent director of Keppel Corporation, as well as a director of Keppel Land and Singapore Totalisator Board.

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HSBC Singapore's chief executive and executive director Kee Joo Wong said Goh's appointment as the first independent chair is "a fitting reflection of her strategic navigation of the bank".

"Her intimate knowledge of the Singapore market will help further accelerate our ambition to be the leading international bank supporting our clients' wealth management needs," he added.

HSBC Singapore's growth plans include doubling the total wealth balances of its wealth and personal banking business in the next 5 years.

READ MORE:

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• HSBC makes new Singapore-based appointments