The head of major Hong Kong lender Hang Seng will take a brief leave of absence over health-related reasons.
Hang Seng CEO and vice chairman Louisa Cheang Wai-wan will take a three-month leave to recover from an existing medical condition first disclosed last year, according to an exchange filing from the bank.
Executive director and head of wealth and person banking Margaret Kwan Wing Han will serve as the acting CEO during her absence.
Ongoing Reshuffle
Cheang’s absence coincides with ongoing changes at the very top with independent director Irene Lee Yun Lien expected to become chairman, replacing Raymond Ch’ien Kuo Fong who is retiring after 13 years with Hang Seng.
Lee's official appointment is expected to be announced on May 26.
Health Reasons
Last July, the bank had already announced that Cheang was undergoing treatment for a «recently diagnosed medical condition» without elaborating.
An «SCMP» report citing unnamed sources confirmed that Cheang’s condition was not coronavirus.
Cheang has been Hang Seng’s vice chair and CEO since 2017 and previously worked with majority shareholder HSBC as its group general manager and group head of retail banking. She first joined HSBC in 1999 in its credit card unit.
