HSBC Names Two Co-CEOs to Lead Global Insurance

HSBC’s insurance operation is a central part of the bank’s wealth-management strategy, particularly in Asia, offering protection, savings and legacy-planning products through its banking network. The leadership change carries added significance as regulators increase scrutiny of cross-border wealth sales, product suitability and distribution governance. The incoming executives must pursue growth while meeting tighter compliance expectations across a global insurance franchise.

As of Aug. 13, 2026, HSBC said Daisy Tsang, chief executive of HSBC Life Hong Kong and Macau, and Kai Zhang, head of International Wealth and Premier Banking in Asia, will jointly lead its global insurance business as co-CEOs. They replace Edward Moncreiffe, who is leaving the role. HSBC did not disclose an effective date for the appointments or any financial terms, and no transaction value is associated with the management change.