HSBC has appointed Kai Zhang as the head of its wealth and personal banking (WPB) team for south Asia.
Zhang, who is based in Singapore, will take on her role from 26 June and report to both Nuno Matos, CEO for WPB and Surendra Rosha, co-CEO for Asia Pacific, HSBC said in a statement on Tuesday.
As part of her role, Zhang will look at accelerating the WPB team’s expansion in south Asia across eight markets: Singapore, India, Taiwan, Australia, Malaysia, Indonesia, Vietnam and the Philippines.
She will also focus on deepening connectivity between WPB in south Asia and HSBC’s wholesale banking franchises as well as its global network.
HSBC’s WPB unit recorded double-digit percentage increases in invested assets, net new invested assets and wealth management revenues in 2022.
For instance, its invested assets in Singapore and India grew 22% and 215%, respectively, last year. International accounts from customers who are new to the bank increased by more than 50% at the same time.
Zhang joins HSBC with over 25 years of financial services experience in North America and Asia, including leadership roles at Citi and McKinsey & Co.
Her most recent role was as CEO and general manager of Manulife-Sinochem Life Insurance Company, which she took on in 2016.