HSBC, ING appoint new executives

Lawrence Agcaoili - The Philippine Star
HSBC, ING appoint new executives
STAR / File

MANILA, Philippines — British banking giant HSBC has appointed Sandeep Uppal as the new president and CEO of its Philippine unit.

Surendra Rosha, co-chief executive at HSBC Asia- Pacific, said Uppal succeeds Graham FitzGerald, who is moving on from HSBC at the end of February after 18 years with the bank

“We wish to thank Graham for his 18 years with the group and for his leadership in the Philippines since 2018,” Rosha said.

Uppal joined HSBC in 1993 and is currently based in Hong Kong as global co-head of international subsidiary banking (ISB), responsible for managing the bank’s large corporate and mid-market subsidiary clients across 49 markets.

Uppal has over 30 years’ banking experience working in Hong Kong, India, Mauritius, the Philippines, and the UK.

“Sandeep’s extensive international banking experience will be invaluable to our retail and wholesale banking growth strategies in what is ASEAN’s third-largest economy, particularly as we set course to grow market share in the country’s mid-market enterprise sector,” Rosha said.

HSBC has been operating in the Philippines for 146 years and is a leading international bank in the country. It has eight branches located in Metro Manila, Cebu and Davao, including those of the locally incorporated HSBC Savings Bank, and a Global Service Center servicing local and international HSBC markets.

Meanwhile, Dutch financial giant ING Bank has appointed seasoned banker Lenin Duenas as head of Diversified Corporates & Financial Institutions at ING Bank, N.V. Manila Branch.

ING country manager and managing director Hans Sicat said Duenas is returning to ING armed with 28 years of experience in leading client origination and strategy across commercial and investment banking.

“With an extensive industry and regulatory knowledge in the financial sector of developed and emerging markets, he will be a formidable addition to our wholesale banking team in Manila,” Sicat said.

Duenas, who started his career in banking at the Bank of Tokyo in 1993, spent a combined 28 years in ING Wholesale Banking. In his last appointment as managing director and ING’s head of FI Northern Europe, he was regionally responsible for UK/Ireland, Nordics, including emerging market banks and non-bank financial institutions operating in London and in other European countries.

Duenas started his career with ING in Manila in 1997 responsible for corporate client coverage within the bank’s Corporate Institutional Finance Department. He also held various positions in Tokyo, Manila, Amsterdam and London.

Prior to his return to ING, Duenas worked at MUFG Bank Ltd., where he served as managing director of its London-based Financial Institutions Group (FIG) for Europe, the Middle East, and Africa where he helped build MUFG’s FIG franchise in the EMEA region.


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