Former HSBC Insurance chief David Fried has left the London-based banking giant after 20 years to become Regional CEO of Allianz Asia Pacific, based in Singapore.

Mr Fried was formerly Group GM and Group Head of Insurance at HSBC Holdings, and was responsible for insurance operations in 54 countries.

He replaces Kamesh Goyal, who has been appointed to a new role at Allianz headquarters in Munich.

The Asia-Pacific region is one of Allianz’s three major growth regions, and Mr Fried will report to Manfred Bauer, the Allianz board member responsible for insurance growth markets.