New leaders have been named to HSBC’s Commercial Banking businesses in Hong Kong and mainland China, two of the bank’s most important markets in its pivot to Asia.
In Hong Kong Terence Chiu will be appointed Head of Commercial Banking with effect from 1 July 2017, he will succeed Albert Chan who is retiring after 40 years of service with the HSBC Group.
In his new role, Chiu will report to Stuart Tait, Regional Head of Commercial Banking, Asia- Pacific and join the Hong Kong Executive Committee.
As a result of the move Frank Fang will now succeed Chiu as Head of Commercial Banking in mainland China. He is rejoining HSBC after a brief spell as Deutsche Bank’s head of corporate banking coverage in China, the bank said in a note to finews.asia.
The Pivot to Asia
Fang will report functionally to Tait and on an entity level to David Liao, President and Chief Executive HSBC China.
Fang, who will be based in Shanghai, will have a mandate to further develop HSBC’s international commercial banking franchise in mainland China as part of the Group’s strategic pivot to Asia.
«We are delighted that Frank will drive our Commercial Banking business in mainland China and to see him rise from management trainee to business leader,» said Liao.
