HSBC’s Asia Pacific chief executive Peter Wong will officially retire and serve as a non-executive chairman while his role is replaced by a dual appointment.
HSBC appoints the widely anticipated internal successors of Peter Wong – ex-APAC global banking head David Liao and ex-India CEO Surendra Rosha – according to a statement.
Wong will retire as APAC CEO and become a non-executive chairman, effective immediately, replacing Laura Cha.
Asia Reshuffle
Hitendra Dave was named interim CEO of HSBC India and will permanently take over the role following regulatory approval.
Liao’s successor will be announced in due course, the bank added.
Taipan House
Interestingly, neither Liao nor Rosha will occupy the so-called 'Taipan House' – a colonial era home bought by HSBC in 1983 for its top executives and chairmen.
«Peter will stay in the house,» said HSBC group CEO Noel Quinn.
Quinn noted that HSBC had no mandatory retirement age and that Wong, who runs 70 in November, stepped down from the top role in the region entirely based on his own «personal decision».
