HSBC has appointed Ho Lee Yen as its CEO of insurance operations in Singapore. Ho (pictured) was formerly chief distribution officer at AIA Singapore where, under her stewardship, she led the digital transformation of the distribution model. Before that, she was AIA's chief customer and marketing officer and was key in leading the launch of AIA Vitality, a health and wellness programme.
Ho has over 25 years of experience and first joined AIA in 2011 as chief partnership officer. Under her leadership as chief customer and marketing officer, AIA said it introduced a multitude of products and strengthened its customer proposition. She was also crowned CMO of the Year at MARKETING-INTERACTIVE's Marketing Talent Awards in 2019. Ho has also worked in a variety of senior executive roles across actuarial, partnership distribution, marketing, customer solution and proposition, and agency distribution. She is succeeded by Chin Chung Wen at AIA, effectively 1 October.
Bryce Johns, global CEO of HSBC life and insurance partnerships, said that Ho's extensive management experience, deep knowledge of the needs of customers and distributors, and strong understanding of the Singapore and wider Asia market, will prove invaluable as it boldly expands its horizons in a distinctive manner.
Last month, HSBC entered into an agreement to acquire 100% of the issued share capital of AXA Insurance (AXA Singapore) for US$575million. The proposed acquisition, which is subject to regulatory approval, is a key step in achieving HSBC’s ambition of becoming a leading wealth manager in Asia, by expanding its insurance and wealth franchise in Singapore.
Following deal completion, HSBC will merge the operations of HSBC Insurance Singapore and AXA Singapore, subject to further approval by the Singapore regulator and courts. Kee Joo Wong, CEO of HSBC Singapore, said that the proposed AXA Singapore acquisition will deliver a distinctive and holistic wealth planning, health and general insurance experience and help it further reach and service customers beyond its branch network.
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