SINGAPORE - HSBC announced on Wednesday (Feb 22) the appointment of Mr Tony Cripps as chief executive officer of HSBC Singapore, with effect from April 3 this year.
He succeeds Mr Guy Harvey-Samuel, who will retire from HSBC after more than 38 years' service to the bank.
In his new role, Mr Cripps will have the responsibility for leading the bank through its next phase of growth and investment in Singapore, said HSBC.
A 30-year veteran, Mr Cripps is currently CEO of HSBC Australia, a role he has held since 2013.
Before this, he held several positions with HSBC including chief executive of HSBC in the Philippines and leadership positions in HSBC's global banking and markets business in London and Hong Kong. Mr Cripps was also appointed to the Board of HSBC Bank (Singapore) Ltd, as a non-executive director, in 2016.
Through its favourable demographics, infrastructure needs and openness to inbound investment, Asia continues to be the engine-room of global economic growth, and Singapore's centrality to the broader Asian trade, investment and wealth flows make it a cornerstone market for HSBC's pivot to Asia, including our strategic focus on the Asean region.
Commenting on the appointment, HSBC Asia-Pacific vice chairman and CEO Peter Wong said: "Given Singapore's importance to HSBC, I am delighted that Tony will be leading the business in its next phase of growth. His leadership of our Australian and Philippines businesses, and presence on the HSBC Singapore board, means that Tony is well immersed into the region.
"I would also like to thank Guy for his dedication to HSBC in a successful career that has spanned almost four decades."
Mr Harvey-Samuel joined HSBC in 1978. In that time, he has led several businesses across more than 10 markets, said HSBC. Most recently, he led HSBC Singapore through a period of transformation including investment in its branch and digital networks and the local incorporation of HSBC's retail banking and wealth management business in 2016, the bank said.
Mr Harvey-Samuel will continue to serve HSBC by succeeding Gordon French as non-executive chairman of HSBC Singapore later this year, subject to obtaining regulatory approval.
At its June 2015 Investor Day, HSBC announced its "Pivot to Asia" strategy which involves prioritising and accelerating investments 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.