Asia financial heavyweight Laura Cha will be stepping down from HSBC’s board, according to its latest annual results announcement.
Laura Cha will no longer serve as a board member for HSBC, according to a statement by group chairman Mark Tucker, immediately after the 2021 annual general meeting in May.
Last year, Sir Jonathan Symonds and Kathleen Casey retired from the board and the bank had since appointed Jamie Forese, Steve Guggenheimer and Eileen Murray as independent non-executive directors in 2020 and will now add Dame Carolyn Fairbairn as an independent non-executive director, effective September 1, 2021.
Key Recruiter
Cha has recently been heavily spotlighted in recent media headlines, most notably for her role in the selection of new leaders for major financial institutions.
At the Hong Kong Exchanges and Clearing where she is its chairwoman, for example, she was reportedly seeking a successor who would serve Beijing’s interest and avoid competition with other mainland exchanges, ultimately appointed ex-J.P. Morgan private banker Nicolas Aguzin to the role.
At HSBC, APAC head of global banking David Liao is reportedly one of the top candidates to succeed Asia chief Peter Wong due in part to close relations with Cha and HSBC group CEO Noel Quinn.
