New head of HSBC’s local unit bullish on RP business prospects

The HSBC group is keen on expanding its branch network in the Philippines, said Mark Watkinson, the bank’s incoming president and chief executive officer.

"We are looking at some areas like Davao and Cebu," said Watkinson, who will replace Warner Manning.

"The Philippines offers HSBC more opportunities, what with its strong government fiscal position and strong peso," Watkinson said.

The bank’s personnel in the Philippines has grown to 1,610; its credit card base grew to 800,000 from 500,000 last year; and it presently has a client base of over one million, both in the commercial and consumer segment.

Watkinson joined HSBC in 1985 and has assumed various positions in corporate banking, retail operations and treasury in Asia, the Middle East, Europe and North America. He is currently the senior vice president and group head of Corporate Middle Markets for HSBC Bank USA.

He is a licensed attorney with a law degree from the University of Wales and a MBA from the University of Warwick.

His predecessor, Manning, on the other hand, has been credited as being the bank’s strongest brand ambassador and corporate social responsibility advocate through his various fund-raising campaigns for disadvantaged children, the environment, and Gawad Kalinga.

The incoming bank president will be taking over a bank where net profits tripled and reached record levels. Return on equity rose to nearly 26 percent, more than twice the industry average.

Watkinson admitted meanwhile that the expansion of HSBC Savings Bank remains organic as its priority. However, "if there are opportunities, we will look into it."

HSBC will intensify its strong presence with the large corporates, small and medium enterprises and the middle market

"I am excited to take on this role at a time when the bank in the Philippines has achieved record levels of growth, in both business performance and staff numbers. HSBC remains confident in the country’s future prospects and I am keen to drive the momentum further and build on the success of the team in the Philippines," the incoming president added.