HSBC Philippines Appoints Sandeep Uppal as President and CEO
HSBC Philippines has announced the appointment of Sandeep Uppal as its new President and CEO. Uppal is no stranger to the Philippines, as his daughter was born in Manila in the late 1990s when he first worked in the country for HSBC. He has since worked in Hong Kong, the United Kingdom, and Mauritius before returning to the Philippines in 2022.
Uppal expressed his joy at returning to a country where expatriates are well integrated into society and where he has fond memories. He praised the Philippines for its welcoming nature and international orientation. HSBC Philippines has a long history in the country, having been established 148 years ago.
Uppal highlighted HSBC’s close partnership with the government and the corporate sector. The bank has supported the government by arranging sovereign bond issues and promoting the country as an investment destination. Just recently, HSBC signed a memorandum of understanding with the trade department to bring in more foreign direct investments.
One area of focus for HSBC is “green” lending. The bank recently announced a $24.5 million green loan for a local waste management operation in Cebu. This loan aligns with HSBC’s commitment to achieving net-zero emissions by 2030. Uppal emphasized that their decisions are in line with their climate strategy and that they continue to partner on innovative solutions.
The Philippine government, particularly the Bangko Sentral ng Pilipinas, has been taking concrete actions to pursue sustainability goals. The BSP co-chairs the Green Force responsible for the country’s sustainable finance roadmap. Uppal noted the progress towards sustainable financing and encouraged more individual corporates to participate in sustainable finance.
Uppal also highlighted the huge potential for renewable energy investments and the supply chain, given the country’s 35% clean energy goal by 2030. He mentioned other funding projects such as transmission facilities, battery systems, and the waste management industry. In the transport sector, HSBC is excited about investments in electric vehicles and the associated ecosystem.
With over 30 years of experience in banking, Uppal is living his dream and ambition. He joined HSBC in 1993 and has worked in five countries across three continents. Uppal values work-life balance and makes sure to spend time with family, friends, and colleagues outside of work.
As HSBC Philippines’ new CEO, Uppal is honored to continue the bank’s rich legacy as it approaches its 150th anniversary in the country in 2025. He emphasized the importance of planning for long-term careers and encouraged individuals to enjoy their work as careers can be too long to be miserable.
