HSBC has added a new director with extensive board experience at renowned companies in Hong Kong, including rival lender Standard Chartered.
HSBC appoints Edward Wai Sun Cheng as an independent non-executive director, according to a statement. Cheng will also be a member of the bank’s remuneration committee and risk committee.
«[Cheng’s] strong leadership, coupled with his understanding of the global and Asia market, will be invaluable as we continue to execute our strategies, drive profitability and enhance business value for all stakeholders,» said HSBC chairman Peter Wong.
37-Year Veteran
Cheng has over 37 years of local and global experience at some of the largest corporates in Asia. He is currently deputy chairman and chief executive of Wing Tai Properties and chairman of Lanson Place Hospitality Management.
Previously, he held executive roles at Hutchison Whampoa and Whampoa with a focus on China and US business development. He also served as an independent non-executive director at Standard Chartered Bank (Hong Kong), Television Broadcasts and Orient Overseas (International) as well as a non-executive director at the Securities and Futures Commission.
Outside of business sectors, Cheng is involved in the fields of arts and culture, currently as a member of the Hong Kong government’s Culture Commission as well as council chairman of the Hong Kong Academy for Performing Arts.
