HSBC has announced it will appoint Harpreet Bindra as the new Chief Executive Officer of HSBC Life Singapore, pending regulatory approval.
Bindra will succeed Ho Lee Yen, who is stepping down to spend more time with his family following the successful consolidation of AXA Singapore and HSBC Insurance into HSBC Life Singapore.
Bindra brings over 20 years of leadership experience in the insurance and financial services sectors to his new role, including recent experience as the Global Head of Strategy and Business Development for HSBC Global Insurance and Partnerships in Hong Kong.
Reporting to both Greg Hingston, CEO of HSBC Global Insurance and Partnerships, and Ashmita Acharya, Head of Wealth and Personal Banking in Singapore, Bindra will remain part of HSBC Life’s Global Executive Committee and join HSBC’s Singapore-based Wealth and Personal Banking Executive Committee.
On the appointment, Hingston said, “Harpreet’s appointment as the CEO of HSBC Life Singapore comes at a pivotal time when we are investing and growing our insurance and wealth businesses. I am confident that under Harpreet’s leadership, HSBC Life Singapore will realise its potential with best-in-class propositions for our customers.”
Ashmita Acharya added, “Harpreet’s extensive insurance experience in Asia and proven leadership qualities will allow us to successfully execute our insurance and wealth strategy.” Acharya also stressed that HSBC Life Singapore’s successful performance is crucial to the HSBC Group’s target of becoming a leading wealth manager in Asia.
HSBC Life Singapore is the group’s insurance arm in the country and was established following a merger of AXA Singapore and HSBC Insurance. The integration took place in February 2023 under a Scheme of Transfer, subsequent to the acquisition of AXA Singapore by HSBC in February 2022.