HSBC Life Singapore bolsters leadership team

HSBC Life Singapore bolsters leadership team | Insurance Business Asia

Life & Health

HSBC Life Singapore bolsters leadership team

Seasoned leaders expected to drive company’s distribution and product innovation

Life & Health

By
Roxanne Libatique

HSBC Life Singapore has announced the appointment of two new senior executives to its leadership team, a move that reflects the company’s strategy to enhance its distribution channels and product offerings.

The appointments are part of HSBC’s broader ambition to address evolving customer needs in Asia and position itself as a leading wealth manager in the region.

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HSBC Life Singapore’s new chief product propositions officer

Effective Sept. 30, Ouling Lu assumed the role of chief product propositions officer.

Lu brings extensive experience to the role, having served as head of products and propositions for Greater Asia Life at Milliman, and holding leadership roles at Allianz across Asia, Europe, and the US.

HSBC Life Singapore’s new chief partnership distribution officer

Michael Wei has been appointed to the role of chief partnership distribution officer, effective Oct. 1.

He will be responsible for overseeing HSBC Life’s bancassurance, high-net-worth, and financial advisory distribution channels in Singapore while leading the company’s sustainability and corporate social responsibility initiatives.

Wei’s background includes over two decades in the life insurance and banking sectors, with prior leadership positions at Citi, OCBC, Manulife, and most recently Sun Life Singapore, where he was chief partnership and marketing officer.

HSBC Life Singapore’s growth strategy

Both executives will report to Harpreet Bindra, CEO of HSBC Life Singapore.

Bindra said the new hires’ leadership and experience will be instrumental as the company works to strengthen its business in Singapore and advance its strategic goals.

“I am pleased to welcome Michael and Ouling to my leadership team. Both senior leaders bring with them a wealth of experience and a passion for innovation that will be invaluable as we continue to execute our strategy and expand our market presence in Singapore,” he said.

The award recognises HSBC Life’s efforts to integrate and engage its workforce, particularly following the merger of its two insurance units earlier this year, which brought together 800 employees under the HSBC Life Singapore banner.

In support of its employee engagement initiatives, HSBC Life introduced a “Culture Tribe,” which comprises over 20 staff members from various departments who work to enhance communication, trust, and inclusion across the organisation. This group has organised more than 30 activities to foster collaboration and raise awareness of employee benefits.

Regular communication is another key aspect of the company’s engagement strategy. HSBC Life has held six town hall meetings to ensure that staff remain informed about the company’s direction and business objectives while providing digital platforms to facilitate interaction among employees.

As part of its corporate social responsibility initiatives, HSBC Life participated in the OneMillionTrees movement, with a notable level of staff involvement. The company was also recognised for its CSR efforts, receiving the “Friends of Red Cross” award in October 2023, presented by the president of Singapore.