HSBC Singapore has appointed veteran banker Mukhtar Hussain as director and chairman, effective immediately.
He replaces former Singapore CEO Guy Harvey-Samuel, who is set to retire from the bank after taking on the role in 2017.
Hussain will continue as the head of Belt and Road Initiative (BRI) for HSBC Asia-Pacific. He was handed the role this April to grow the group’s BRI business and drive collaboration across HSBC’s global businesses and international footprint.
Prior to that, he was CEO for HSBC’s businesses in Malaysia – a role he has held since 2009. He was also the deputy chairman for HSBC Bank Middle East and global CEO of HSBC Amanah, the Islamic banking subsidiary of HSBC Bank Malaysia.
In addition to his new role, Hussain will continue as non-independent executive director of HSBC Amanah and HSBC Bank Malaysia.
He has been at the UK-headquartered bank since 1982, working in various businesses and geographies including the UK, the Middle East and North Africa during his 36-year stint.
In September, HSBC Singapore announced that it will double its wealth business and add 400 customer-facing staff across its private banking and retail banking and wealth management businesses over the next five years.