HSBC Holdings PLC plans to expand its operations in Singapore as part of efforts to gain a larger share of the consumer and wholesale business, The Business Times reported March 17, citing HSBC Bank (Singapore) Ltd. CEO Tony Cripps.
The U.K.-based banking group devised a three-year plan for its Singapore operations that includes investing in increasing headcount, systems and capability across its retail, private banking and institutional banking businesses, Cripps said.
As part of the plan, the group will hire an additional 300 people as it looks to expand its headcount of 3,000 in Singapore by about 10%, the CEO added.
In addition, the group plans to focus on supporting the infrastructure and sustainable development of ASEAN, as well as obtaining a bigger share of the rising trade and investment flows moving to the ASEAN region, the publication reported.
