SINGAPORE: Fantastic Eastern will get a fresh Group CEO in November, with the appointment of Mr Greg Hingston.
He will succeed Mr. Khor Hock Seng, who may retire on October 31. He may start in the position on November 1.  ,
Mr. Hingston has worked in Asia for over 20 years, the business stating in a statement on Wednesday ( Aug 28 ) that he has been based in Hong Kong.  ,
He spent the past 18 times with HSBC.  ,
According to Great Eastern,” Mr. Hingston has held numerous senior senior management positions in the Asia Pacific region, including managing the wealth and individual banking businesses in Hong Kong and for the region.”  ,
He was “primarily responsible for setting the plan, managing, and growing the existence insurance firms of the HSBC Group” in his most recent position as CEO of HSBC’s worldwide coverage and partnerships.  ,
Mr. Hingston was chosen after a thorough examination that considered both internal and external prospects as well as those within and outside of Singapore.  ,
Following a “rigorous and substantial” selection process, the voting committee and the board of Great Eastern chose Mr. Hingston from a last shortlist.  ,
Given the company’s plan to expand and diversify beyond its main areas of Singapore and Malaysia, Mr. Hingston was chosen as the most suitable candidate for the position, according to the statement.  ,
Helen Wong, the CEO of OCBC and Great Eastern Holdings, said Mr. Hingston’s wealth and healthcare experience may help in “fostering collaboration and cooperation between OCBC and Great Eastern Group under OCBC’s One Group technique.”
OCBC made a S$ 1.4 billion offer to buy the remaining interest in employer Great Eastern Holdings in May with the intention of delisting the business.
The takeover offer closed on Jul 12,  , with the lender holding more than 93 per share of the business.
After serving when Group CEO for nine centuries, Mr. Khor leaves Great Eastern. He will serve as a board member to help with the move for a period of six months.  ,
” Under Mr Khor’s stewardship, Great Eastern Group’s total assets grew steadily from S$ 65.8 billion ( US$ 50.5 billion ) as at end-2015 to S$ 109 billion as at end-2023″, said the company.  ,
Great Eastern Group’s economic performance, including net premiums and complete weighted new sales, also experienced significant growth over the same time period.