The chief executive of one of Hong Kong's leading banking group is stepping down.
Hang Seng Bank vice-chairman and chief executive Rose Lee Wai-mun, 64, will retire from July after serving at the lender for five years, the bank announced to the local exchange.
Lee will be replaced by Louisa Cheang, who has served as group general manager and group head of retail banking at HSBC Holdings since January 2014.
Success Built on Cross Border Business
Cheang's appointment follows the pattern of the past few chief executives of Hang Seng, including Lee, who have all been sent over from its parent HSBC. During her time at Hang Seng, Lee has led the bank in further developing cross-border businesses and shares in Hang Seng have seen an increase of over 50 percent.
Hang Seng also announced that Andrew Fung Hau-chung, executive director and head of global banking and markets, would be retiring from 4 July 2017.
