HSBC Singapore Adds Directors to Board
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The two new board members will help the bank accelerate its business transformation in Singapore and deepen its foray into the digital space.
HSBC Bank (Singapore), the local subsidiary of HSBC that includes retail banking and wealth management businesses, is adding Penny Goh and Josh Bottomley to its board of directors, the firm said in a press release on Wednesday.
Goh is a co-chairman and senior partner of Allen & Gledhill, and leads the law firm’s corporate real estate practice. With the appointment, she will become a member of HSBC Singapore’s Audit and Risk committees. Bottomley is HSBC’s global head of Digital, Retail Banking and Wealth Management, a role he has held since May 2013. He has also held various senior appointments at Google and LexisNexis.
HSBC said in June 2018 that Singapore was one of eight priority markets globally. In September 2018, HSBC Singapore said it would double the overall combined retail and private banking total wealth and hire more than 400 retail and private banking customer-facing employees over five years.
Singapore is a growth market for HSBC and one where we want to build scale, and both appointments have a very strong and significant connection in support of delivering the strategy, Mukhtar Hussain, HSBC Singapore chairman and HSBC’s Asia Pacific head for Belt and Road Initiative, said about the appointments.
Together, both will bring a very strong blend of experience, expertise and ambition in the oversight of HSBC’s Retail Banking and Wealth Management business in Singapore. Moreover, the appointment of such high-caliber individuals reflects the importance and rising prominence of the Singapore franchise for HSBC globally, Hussain added.
Earlier this month, HSBC CEO John Flint, 51, announced his sudden departure after being at the helm for only 18 months, saying the bank needed a change at the top to address the «challenging global environment.» In the meantime, Noel Quinn, HSBC’s head of global commercial banking is holding the role of interim CEO.
Questions & Answers
Q.What roles will Penny Goh take on within HSBC Singapore's board committees?
What roles will Penny Goh take on within HSBC Singapore's board committees?
Penny Goh will become a member of HSBC Singapore’s Audit and Risk committees. She is also a co-chairman and senior partner at Allen & Gledhill, leading their corporate real estate practice.
Q.What is Josh Bottomley's current position within the broader HSBC organisation?
What is Josh Bottomley's current position within the broader HSBC organisation?
Josh Bottomley is HSBC’s global head of Digital, Retail Banking and Wealth Management. He has held this role since May 2013 and previously worked at Google and LexisNexis.
Q.How do these new appointments align with HSBC's strategy for Singapore?
How do these new appointments align with HSBC's strategy for Singapore?
These appointments support HSBC's strategy to build scale in Singapore, a growth market and one of its eight global priority markets. They are expected to bring experience and expertise to the Retail Banking and Wealth Management business.
Q.What was the announced target for HSBC Singapore's retail and private banking operations in September 2018?
What was the announced target for HSBC Singapore's retail and private banking operations in September 2018?
In September 2018, HSBC Singapore announced plans to double its overall combined retail and private banking total wealth. It also aimed to hire over 400 customer-facing employees in this area over five years.
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