HSBC Insurance (Singapore) has hired Carlos Vazquez from rival Manulife to be its new CEO.
Vazquez replaces Ian Martin, who has been given a new global role in HSBC Group Insurance based in London.
Commenting on the appointment, HSBC Group head of insurance Bryce Johns said: “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”.
HSBC Insurance (Singapore) chairman and HSBC Singapore CEO Tony Cripps said: “We’re really excited to have Carlos on board at this pivotal moment for HSBC Singapore as we continue to invest and grow our business.
“Working closely with HSBC Insurance, we are able to bring our combined strength and expertise to meet the broad range of protection needs of our retail, high net worth and corporate customers.”
In his new role, Vazquez will be responsible for boosting the company’s growth by expanding its strategic distribution partnerships and delivering new direct-to-consumer digital solutions.
At Manulife, Vazquez worked as chief product officer. He led the product management and pricing, and played an important role in launching the DBS-Manulife partnership.
He previously also worked as the chief product officer for Manulife Indonesia.
HSBC Insurance (Singapore) provides an assortment of life insurance solutions to its retail, corporate and private banking customers besides bancassurance partners including regional and global banks.