HSBC appoints new head of wealth and personal banking for South Asia

HSBC has appointed a new head of wealth and personal banking (WPB) for the South Asia region with effect from Jun 26, the bank said on Tuesday (May 23). 

Kai Zhang, based in Singapore, will be responsible for expanding the bank’s WPB business in South Asia. 

She joins HSBC from Manulife-Sinochem Life Insurance Company, where she has served as chief executive officer and general manager since 2016. Kai has also previously held leadership roles at Citigroup and McKinsey. 

She will report to WPB chief executive Nuno Matos as well as Surendra Rosha, co-chief executive for Asia-Pacific. 

HSBC said that Kai’s appointment rides on the strong momentum in the bank’s South Asia expansion.

According to HSBC, the bank’s invested assets, net new invested assets and wealth revenues in South Asia had seen “double-digit percentage increases” over 2022, while new-to-bank international accounts in the region had grown by more than 50 per cent. 

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Said Matos: “Kai’s extensive experience and track record of delivery make her the ideal person to drive our growth agenda in South Asia… It’s an exciting time to grow with our customers in these markets, and we’re committed to deepening our investments in the region.”