New CEO for HSBC Singapore from June

Incoming CEO Wong Kee Joo.
Incoming CEO Wong Kee Joo.

HSBC Singapore is set to get a new chief executive, with Mr Wong Kee Joo taking over on June 1.

Until then, the bank's chief operating officer, Mr Olfert De Wit, will be interim CEO, according to an internal memo seen by The Straits Times.

Mr Wong, HSBC's Asia-Pacific head for global liquidity and cash management, is replacing Mr Tony Cripps, who will be managing director and board member at Saudi British Bank, in which HSBC is the largest shareholder, with a 31 per cent stake.

"Kee Joo is Singaporean and will bring rich and diverse experience to the role," said Mr Peter Wong, HSBC's deputy chairman and chief executive. "In addition to Singapore, he has worked in key markets in a variety of roles, including the United Kingdom, Thailand, Hong Kong and mainland China."

He went on to say that the CEO-designate's most recent role has given him strong experience developing digital solutions for wholesale clients and supporting trade and investment flows between China and Asean which, he added, has become the world's most important commercial corridor.

"This experience means Kee Joo is perfectly suited to help clients capture the rising commercial, wealth and digital opportunities that Singapore and the region present," Mr Peter Wong said.

He added that Singapore is central to the bank's "ambitious growth plans in the region".

"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 South-east Asia and beyond."

A version of this article appeared in the print edition of The Straits Times on February 23, 2021, with the headline 'New CEO for HSBC Singapore from June'. Subscribe