HSBC strengthens domestic banking presence with senior hires

In June 2018, HSBC Singapore was announced as one of eight markets globally where HSBC wanted to grow its local franchise to a domestic scale¹. HSBC Singapore subsequently unveiled plans in September 2018², under the Group’s Asia Wealth strategy, to double the overall combined retail and private banking total wealth and add more than 400 retail and private banking customer-facing employees over five years.

To better support these core initiatives, HSBC Singapore made structural changes including the formation of two new teams: Customer Propositions & Marketing and Retail Products.

Mr. Anurag Mathur, Head of Retail Banking and Wealth Management, HSBC Bank (Singapore) said: “Since we embarked on our new strategy, our business has grown exponentially and, to sustain this trajectory, we need laser-like focus on delivering excellent customer service. This means generating deep customer insights, designing and delivering unique products and propositions, and having the agility to meet changing customer needs. It also requires having the right structure and people in place.”

He added: “Alice, Ranojoy and Ian will add great value to the team given their deep industry knowledge and understanding of the marketplace and our clients in this region. With them on onboard, we will be in an even better position to further our ambition to grow our business in Singapore.”

The new appointments are as follows:

Ms. Alice Fok, Head of Customer Proposition and Marketing
Ms. Alice Fok has more than 20 years of experience in retail banking across marketing and customer experience, product management, data analytics and digital banking. Ms. Fok was with Citibank Singapore, most recently as Director, Customer Franchise in its consumer banking business. Ms. Fok’s depth of knowledge especially in leveraging customer insight to drive a customer-centric culture will enable the bank to further sharpen its propositions and develop marketing strategies that support its bold growth ambitions.

Ms. Fok’s appointment is effective 5 August 2019 and she will oversee the Customer Experience, Customer Propositions and Marketing teams.

Mr. Ranojoy Dutta, Head of Retail Products
Mr. Ranojoy Dutta has a proven track record of more than 23 years. He joined HSBC Group in 2013 and held senior leadership roles in its Retail Banking & Wealth Management business across multiple geographies, operating environments and customer segments.

Mr. Dutta joins the team from HSBC Hong Kong where he was previously Head of Regional Growth, Global Transaction Banking Products & Services. His key responsibilities included working closely with countries and the Retail Banking and Wealth Management global teams to proactively manage, lead and drive the growth of the Transactional Banking & Deposits business across all markets within the HSBC Group.

Mr. Dutta’s appointment is effective 1 April 2019 and he will oversee the various products teams including deposits, payments solutions, credit cards, loans and mortgages.

Mr. Ian Yim, Head of Wealth & International
A seasoned banker with more than 20 years of experience, Mr. Ian Yim has spent most of his career with HSBC Singapore.

Prior to taking on this role, Mr. Yim was Head of Premier International and has been with the bank for over 15 years. Under his leadership, the Premier International team has delivered strong performance while undergoing a transformational phase. In addition, having spent the past five years driving HSBC Singapore’s Premier International business, Mr. Yim has been instrumental in shaping the bank’s Asia Wealth strategy. His appointment as Head of Wealth & International will ensure continuity of key initiatives that will further drive the growth momentum of the bank’s Wealth business.

Mr. Yim’s appointment is effective 1 May 2019 and he will continue to champion and drive changes to the bank’s Wealth and International business which serves both domestic customers as well as those with international banking needs.

The new appointments highlight the strength of HSBC’s global career opportunities in particular, its focus on developing local talents as well as its ability to attract the best talent from the market.

¹ 11 June 2018 HSBC Strategy Update – Slide 9 of presentation deck https://www.hsbc.com/investors/investor-events-and-presentations?page=1&take=20
² HSBC Singapore Press Release: “HSBC Singapore sets ambitious plan to capture Asian Wealth”