HSBC Names Hong Kong Wealth, Personal Banking Head

Tom Burroughes

28 September 2020

has appointed Maggie Ng as the head of wealth and personal banking, Hong Kong, with effect from 1 December.

Ng, who will be joining from IG Group, the online trading platform organisation, is the Greater China chief executive. Prior to that, Ng co-founded a fintech wealth management and asset management company – Assured Asset Management. She has worked in the financial services industry for more than 20 years.

The business covers a spectrum of clients from first-time investors to high net worth and ultra-high net worth individuals and their families, businesses and future generations.

“This is an important leadership role for the HSBC Group and Wealth and Personal Banking in Asia. With Maggie’s entrepreneurial spirit and fintech expertise, I am confident that under her leadership we will continue to build an unrivalled customer brand for HSBC, further strengthening our capabilities and positioning ourselves for growth in Hong Kong and the Greater Bay Area,” Greg Hingston, regional head of wealth and personal banking, Asia-Pacific, HSBC, said.

HSBC, which, as previously reported, has recast its structure as part of a cost-cutting drive across the business, underscored the importance of Asia by noting that it is expected to be the world’s largest wealth region with $55 trillion in assets by 2025.

Until Ng joins the team, Hingston will continue to lead HSBC’s WPB business in Hong Kong.

To see a number of other recent HSBC hires in its wealth management area, see here.