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Change At The Top At HSBC's Asia Operations; Hong Kong CEO Departs

Tom Burroughes

12 January 2015

has confirmed to this publication that Hong Kong chief executive Anita Fung is leaving the bank as the banking group reorganises its operations.

As part of the change, Helen Wong will be CEO of Greater China and begins in that role in March. This is a new role that takes in China, Hong Kong and Taiwan. Wong reports to Peter Wong, CEO of HSBC Asia-Pacific.

The UK/Hong Kong-listed banking group, which covers activities including private banking, has sharply consolidated booking centres, spun off subs-scale and low-margin businesses in a bid to sharpen its competitiveness.

Helen Wong will act as interim CEO for Hong Kong until the bank announces who the successor is, a report, later confirmed to this publication by HSBC, said.

An internal memo reportedly said that Fung, who joined HSBC in 1996, is departing to “pursue opportunities outside the group”.  She had been head of global banking and markets for the Asia-Pacific region since 2010 and treasurer and head of global markets in the region since 2005.

The bank also confirmed that David Liao, head of global banking and markets for HSBC China, succeeds Helen Wong as president and CEO of HSBC China in March. John Li, president and CEO of HSBC Taiwan, will now also report to Helen Wong.