HSBC CEO tapped to run Saudi British Bank

HSBC Holdings Plc will be naming a new head for its Singapore business after Tony Cripps was picked to run Saudi British Bank.

Cripps will replace Chief Executive Officer David Dew at SABB, who is retiring in May, according to a statement from the Saudi stock exchange. He has been CEO of Singapore for the past four years and previously led the bank in Australia and the Philippines.

Europe's largest lender is preparing to announce the outcome of a strategic review next week, alongside its full-year results. The bank is mulling moving some of CEO Noel Quinn's direct reports to Asia, placing more top decision makers in the region where it makes bulk of its money.