HSBC Bank Malaysia has named Stuart Milne (pictured) CEO, replacing Mukhtar Hussain who will be helming the new role of HSBC’s head of Belt and Road Initiative, Asia Pacific. He will be based in Kuala Lumpur and will continue reporting to HSBC’s deputy chairman and chief executive Peter Wong.
Prior to his new role, Milne was CEO, India and has also helmed the role of CEO, Japan at the bank. He joined HSBC in 1981 and has worked in a variety of businesses in Hong Kong, the Philippines, the US, Japan, India, UAE and France. According to Wong, Milne’s experience across businesses and geographies would be “invaluable” in leading the bank through its next growth phase.
In Mukhtar Hussain’s new role, which he will be taking on effective 1 July 2018, he will spearhead key initiatives and relationships to grow the group’s Asian BRI business and drive collaboration across HSBC’s global businesses and international footprint. He first joined HSBC in 1982 and has worked in the UK, the Middle East and North Africa. He was previously the deputy chairman HSBC Bank Middle East and global CEO of HSBC Amanah. He will move to Hong Kong and continue reporting to Wong.
“Already a priority market for the HSBC Group, Malaysia’s standing is further enhanced by its strategic importance within the ASEAN region and its growing participation in Belt and Road initiatives,” Wong added.