HSBC Replaces Singapore Chief

HSBC has named a new Singapore chief executive to succeed Tony Cripps who is set to leave and join Saudi British Bank.

Wong Kee Joo has been appointed as HSBC’s new Singapore CEO, according to a report citing an internal memo.

Wong replaces Tony Cripps who is set to become the managing director-designate and board member of the Saudi British Bank (SABB), where HSBC is the largest shareholder at 31 percent, effective April 4.

Before Wong takes on the new role on June 1, HSBC Singapore’s chief operating officer Olfert De Wit will act as the interim Singapore CEO.

Wong is currently the Asia Pacific head for global liquidity and cash management and according to HSBC’s deputy chairman and chief executive Peter Wong, such a role has enabled «strong experience in developing digital solutions for wholesale clients and supporting the trade and investment flows between China and ASEAN.

He had also previously worked in various markets including the U.K., Thailand, Hong Kong, and mainland China.

We will be increasing our investment in both people and technology as we continue to strengthen our wholesale banking services and to grasp the growing wealth management opportunities in Southeast Asia and beyond, the memo said.