HSBC Life Singapore has appointed two seasoned executives to its management team: Mr Philip Pang as Chief Investment Officer and Mr How Chee Koon as Chief Product Officer. The appointments will further support the growth of HSBC's insurance business in Singapore as it continues to increase its manufacturing and distribution activities locally.
Mr Pang is responsible for developing, executing and overseeing the investment strategy of HSBC Life Singapore. He has over 15 years of experience in the insurance and investment sectors. He spent the last 8 years at Prudential Singapore and NTUC Income Singapore, both as Head of Investment, overseeing asset allocation, external fund manager selection and monitoring, portfolio implementation and oversight, investment processes and governance, and the product management of ILP funds.
Mr Pang is no stranger to HSBC and has previously worked at HSBC Global Asset Management in Hong Kong and Singapore, where he was responsible for providing investment solutions to the insurance business and other institutional clients.
As Chief Product Officer, Mr How is responsible for the strategic implementation and execution of new product developments and the management of HSBC Life Singapore’s product suite. Mr How has close to 15 years of life insurance experience across key areas, including product development, actuarial pricing & valuation, data analytics, distribution and marketing. He was most recently Head of Consumer Marketing at AIA Singapore, where he successfully rolled out several customer- and distributor-centric initiatives to grow the business.
Last year, HSBC Life Singapore made sweeping upgrades to its business, including the launch of its new brand, the expansion of its product suite, and widening its distribution channels to include independent Financial Advisory firms. HSBC Life Singapore has since expanded its manufacturing capabilities to offer a holistic range of products and solutions, including market-first innovations aimed at closing the protection gaps that Singaporeans are facing.
More recently, HSBC has announced the launch of a global business, Wealth and Personal Banking (WPB) that combines the retail and private banking units to become one of the world’s largest global wealth managers with USD1.4 trillion in wealth balances, of which nearly half is from Asia.
Mr Carlos Vazquez, CEO, HSBC Life Singapore, shared: “As part of the WPB business, there are immense opportunities for us to deepen our market share and grow the business in Singapore and regionally. Our close collaboration with the retail and private banking units as well as HSBC’s asset management arm will allow us to develop more innovative solutions that will address the protection and retirement planning needs of our customers from across the wealth continuum.”
“Philip and Chee Koon both being seasoned experts in their respective areas will be well placed to help us continue driving our growth initiatives by improving on customer’s investment returns and experience.”
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