Asia-Pacific Power List 2024: Stuart A Spencer, AIA

Stuart A Spencer 

Group chief marketing officer
AIA Group
Hong Kong 
Member since 2018

As group chief marketing officer at insurance heavyweight AIA, Stuart Spencer oversees customer engagement, propositions, branding, communications, sponsorships, events, and marketing digitalisation. It's a role that he carries out with great aplomb, having retained his position in Campaign’s Power List since the first edition came out in 2018.

With Spencer at the helm of group marketing, AIA continues to increase its brand awareness, revenue and customer acquisition. In 2023 alone, the value of new business across its 18 markets in Asia grew by one-third year-on-year to more than US$4 billion. Digital engagement also grew substantially, with over 1.8 million customers acquired through digital platform partnerships across Thailand, Malaysia and India, and AIA ranked first for brand awareness within insurance in five APAC markets.

Spencer has been a key driver of brand growth. He was the visionary behind AIA One Billion, a bold regional initiative that seeks to engage a billion people to live healthier, longer, better lives by 2030. Through a series of engagement touch points including advice, partnerships, events, community programmes and campaigns, the initiative engaged 387 million people by the end of 2023, inspiring them to improve their physical, mental, and environmental wellness while championing financial inclusion.

Strategic partnerships have been another of Spencer's masterstrokes, significantly increasing AIA's brand awareness across the region. Among them is the Hong Kong Observation Wheel and AIA Vitality Park, which has attracted more than seven million participants since the partnership commenced in 2017. And the much-loved AIA Carnival, which returned in late 2023, and welcomed over 800,000 people to the iconic Hong Kong Harbourfront.

Spencer has also led the growth of AIA Vitality, a wellness programme that rewards customers for taking charge of their health. At the end of 2023, there were 3.1 million AIA Vitality and AIA China wellness customers. 

Within AIA, Spencer is an active mentor and executive sponsor for chief marketing officers across 18 markets. He also empowers marketing professionals at all seniority levels by creating opportunities for knowledge sharing and recognition. In December 2023, he convened a region-wide group marketing conference and awards programme for over 1,900 attendees to celebrate successes and inspire impact. 

Spencer is an advocate for a diverse, inclusive, and supportive workplace. Women comprise 57.1% of AIA’s workforce and 41.6%  of their senior leadership, surpassing their own target of 40%. In addition, more than 75 nationalities are represented across the Group. 

Under Stuart’s leadership, AIA has increased its focus on investing in women’s and girls’ sports. Key initiatives include hosting a girls-only football camp with Tottenham coaches in Thailand; AIA’s sponsorship and active participation in the Laureus Sport for Good Global Summit 2023, which focused on addressing gender equity in sports; and securing a high-profile feature on BBC highlighting the growth and development of women’s football in Asia.