By Yi Wei Wong

HSBC Holdings PLC said that it is appointing Greg Hingston as the global chief executive of its insurance business.

The appointment will take effect on Jan. 1, the company said.

Mr. Hingston will be responsible for leading and growing HSBC's insurance business, which the lender has been investing heavily in for the past two years, it said.

The insurance business contributed around 12% to HSBC's profits in the first half this year, it said.

Write to Yi Wei Wong at yiwei.wong@wsj.com

(END) Dow Jones Newswires

November 16, 2021 04:09 ET (09:09 GMT)

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