HSBC Singapore has launched a new coverage division to support the mid-sized non-bank financial institutions (NBFI) sector.

The new division will provide banking capabilities to the expanding ecosystem underpinning Singapore's growing status as a wealth and investment hub, including funds, the insurance industry and payment providers, HSBC said in a press statement on Thursday.

HSBC has appointed Amanda Jooma as head of NBFI coverage in Singapore. She joined HSBC UK in 2017 and led its NBFI team. Ms Jooma has over 11 years of experience as a coverage banker across the whole financial institutions sector, covering banks, funds, alternative finance companies, broker-dealers and asset managers.