HSBC Holdings plc has appointed a CEO for global insurance. The firm has appointed Ed Moncreiffe to the position. He is to take over the role with immediate effect and is to succeed Greg Hingston who is leaving the bank.

The appointment comes as the firm is aiming to explore new opportunities in key markets such as Hong Kong, mainland China, Singapore, and India. Ed Moncreiffe has been with the firm for the past 18 years and has held several senior roles at the banking group.