HSBC has hired Ho Lee Yen from AIA Singapore as chief executive officer of its Singapore insurance operations, which will be merged with AXA Singapore when the US$575 billion acquisition is completed.
She will report to Bryce Johns, global CEO of HSBC Life and Insurance Partnerships, HSBC says in a statement on September 9. She will also be part of the global executive committees of HSBC Singapore and HSBC Life.
Her appointment is subject to regulatory approval.
Ho, who has over 25 years of financial and insurance experience, was previously chief distribution officer of AIA Singapore.
HSBC signed an agreement to acquire AXA Singapore from France’s AXA Group last month. The deal is pending regulatory approval.
“The proposed AXA Singapore acquisition will deliver a distinctive and holistic wealth planning, health and general insurance experience and help us further reach and service customers beyond our branch network,” HSBC Singapore CEO Kee Joo Wong says in the statement. “We’re delighted to have Lee Yen, who is a proven and experienced insurance executive, to help us meet our customers’ needs.”
