The new CEO joins from Manulife Singapore, where he was chief product officer.

HSBC Insurance (Singapore) has appointed Carlos Vazquez as its new chief executive. He succeeds Ian Martin, who will be assuming a new global role in HSBC Group Insurance based in London.

Vazquez joins HSBC Insurance (Singapore) from Manulife (Singapore) where, as chief product officer, he oversaw product management and pricing. In Asia, Vazquez also served as CPO for Manulife Indonesia.

“Carlos brings a wealth of market experience, and a deep knowledge of the insurance industry, with over 20 years of experience in Asia and North America,” Bryce Johns, HSBC’s group head of insurance, said. "I would like to thank outgoing CEO, Ian Martin, for his significant contributions, especially in terms of achieving Tier 1 Status in Singapore. We wish him the very best of luck in his new global role.”

HSBC Insurance (Singapore) is a Monetary Authority of Singapore (MAS) Tier-1 insurer, managing total assets of more than SGD5 billion ($3.8 billion). It offers a range of life insurance solutions to HSBC’s retail, corporate and private banking customers as well as key bancassurance partners including local and international banks.