New CEO for HSBC Singapore

Mr Cripps has been the CEO of HSBC Australia since 2013. He has held several other leadership positions in the bank.
Mr Cripps has been the CEO of HSBC Australia since 2013. He has held several other leadership positions in the bank.

Tony Cripps to start new role on April 3 and oversee branch's growth and investment

HSBC Singapore has named Australian Tony Cripps as its new chief executive.

He starts in the new role on April 3, taking over from Mr Guy Harvey-Samuel, who will retire from HSBC after more than 38 years at the London-based bank.

Mr Cripps, who has been the chief executive of HSBC Australia since 2013, will be responsible for leading HSBC through its next phase of growth and investment in Singapore.

A 30-year banking veteran, he has held several positions with HSBC, including chief executive in the Philippines and leadership positions in its global banking and markets business in London and Hong Kong.

Mr Cripps also joined the board of HSBC Bank (Singapore) as a non-executive director last year.

HSBC chief executive Peter Wong said Mr Cripps' leadership of the Australian and Philippines businesses and his presence on the HSBC Singapore board mean he is well-immersed in the region, putting him in a good position to lead the Singapore operations.

"His experience will enable us to further help our corporate and individual clients capture the commercial and wealth opportunities that are being generated both domestically and across South-east Asia."

HSBC said Asia's favourable demographics, infrastructure needs and openness to inbound investment mean the region continues to be the engine-room of global economic growth.

Singapore's centrality to the broader Asian trade, investment and wealth flows make it a cornerstone market for HSBC's pivot to Asia.

HSBC announced its pivot to Asia strategy in June 2015. It involves prioritising and accelerating investment in Asia with a specific focus on the Pearl River Delta and Asean.

Within Asean, Singapore, Malaysia and Indonesia have been earmarked as priority markets.

Mr Cripps' predecessor, Mr Harvey-Samuel, will continue to work in HSBC by succeeding Mr Gordon French as non-executive chairman of HSBC Bank (Singapore) later this year, subject to regulatory approval.

A version of this article appeared in the print edition of The Straits Times on February 23, 2017, with the headline 'New CEO for HSBC Singapore'. Print Edition | Subscribe