Local banking giant Hang Seng has named a new chairman to succeed Raymond Ch’ien who has been in the position for 13 years.
Current independent director Irene Lee has been named as Ch’ien’s successor, who will officially retire following the bank’s next annual meeting in the second quarter this year.
A statement noted that Ch’ien is exiting the bank to focus on his other commitments and interests.
Financial Veteran
Lee holds multiple directorship positions including independent director at Hang Seng since 2014, director at parent group HSBC and independent director at Swiss Re. She is also a member of the Exchange Fund advisory committee at the city’s central bank, the Hong Kong Monetary Authority.
Outside of finance, she is an executive chairman at local property firm Hysan Development Company and an independent director at China Resources Power Holdings Company.
«Hang Seng is a home-grown brand with a unique Hong Kong franchise. Its long history of commitment to the Hong Kong community will never change,» said Lee, adding that she was excited about taking on the role amid industrywide digitalization. «In the shorter term, we will do our part to support Hong Kong in putting its economy back on the road to recovery.»
Women at the Top
Lee’s appointment also marks a milestone for the bank as the first woman to take the top job.
«Irene will be making history as the bank’s first woman chairman,» Ch’ien explained.
«Together with its vice-chairman and chief executive Louisa Cheang, Hang Seng will be trailblazing by having two of Hong Kong’s most talented female leaders steering the bank forward. Having [Lee] and [Cheang] at the helm will provide further inspiration or promotion of diversity in Hong Kong’s corporate leadership.»
