HSBC Singapore expands coverage for mid-sized businesses; appoints new head of corporate

HSBC Singapore is creating a new coverage division focused on mid-sized businesses in Singapore, as it expands its commercial banking coverage in the Republic, it said on Monday (Mar 14).

The division will work on supporting domestic and cross-border banking needs of Singapore corporations generating around US$50 million to US$500 million. HSBC noted that these clients typically require complex working capital banking solutions as they accelerate expansion plans, and the ability to tap on both debt and equity markets to raise funding.

The division will be led by Ng Li Lian, who has been appointed to the newly created role of head of corporate, Singapore.

Ng was most recently head of business banking, where she led HSBC's SME (small and medium-sized enterprise) franchise in Singapore since she was appointed to the role in 2013. She previously also held senior roles at OCBC's enterprise banking segment and OCBC Vietnam.

Ng will report to HSBC Singapore's head of commercial banking Regina Lee in her new role.

Lee said: "This new division, under Li Lian's leadership and established market knowledge, will accelerate our ability to support Singapore's corporates and will further progress our ambition to be the international bank of choice for businesses in Singapore."

HSBC noted that it has been progressively investing in its commercial banking franchise in recent years, adding that Singapore is a strategic growth market for the bank.

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