SINGAPORE (THE BUSINESS TIMES) – HSBC Singapore has named Winnie Yap as its new head of global liquidity and cash management, with effect from Tuesday (March 23), in a wave of changes seen in the bank’s top ranks this year.
She was earlier appointed interim head when Mr David Koh, her predecessor, decided to part ways with HSBC in January 2021 after slightly more than a year on the job to “pursue new opportunities outside the bank”.
Ms Yap, a Singaporean, will be responsible for delivering treasury solutions for Singapore-based companies and multinational corporations with cross-border needs.
She has almost two decades of banking experience in corporate relationship management and transaction banking, holding various roles including head of sales for commercial banking within the global liquidity and cash management (GCLM) business. Prior to her latest appointment, she was the head of client management in GCLM.
She took a break from banking in 2012 to start her own hospitality business, before returning to HSBC in 2017. Before joining HSBC, Ms Yap spent nine years with Citi Singapore as a relationship manager.
In her new role, Ms Yap will report to Ms Regina Lee, head of commercial banking at HSBC Singapore and to Mr Jason Tan, HSBC’s regional head of international GLCM countries.
Ms Lee said: “South-east Asia has emerged as a global manufacturing, consumption and digital economy powerhouse. In response, businesses are shifting their regional treasury centres and head offices to Singapore, increasing digital adoption to drive stronger working capital arrangements, and repositioning themselves within global supply chains.”
She added that Ms Yap’s experience will build on what HSBC has to offer, as part of the bank’s ambition to help clients “maximise Singapore’s potential as a regional gateway to South-east Asia”.
This is among a slew of changes seen in HSBC Singapore’s management ranks just this year alone.
In February, it was reported that Mr Wong Kee Joo, most recently HSBC’s Asia-Pacific head for global liquidity and cash management, will take over as the bank’s Singapore chief executive officer from June 1. He will replace Mr Tony Cripps, who is leaving to become the managing director-designate and a board member of Saudi British Bank from April 4.
In January, HSBC Singapore announced that Ms Lee will be its new head of commercial banking from March 1. She took over from Mr Alan Turner, who has moved to head the bank’s commercial banking unit in Canada after more than three years in Singapore.