There are 3 older and 37 younger executives at HSBC plc. Check if your 2023 eFinancialCareers - All rights reserved, The banking version of Game of Thrones is often quite disappointing in terms of its visual appeal, but there can still be a lot of entertainment in a good old-fashioned. He may be stepping down from his post, but it was reported that he will not be leaving the company. technique - and why do banks like it? Gain a global perspective on the US and go beyond with curated news and analysis from 600 As chair of Hong Kongs original bank, Wong will maintain his status among Hong Kongs taipans the citys most revered businessmen. Under Wongs leadership, the region has become an increasingly important part of HSBC. HSBC demonstrates how China will use the national security law as new leverage for more political influence over foreign business community in this global city, he wrote. Other names in the frame according to similarly sourced rumours are apparently Tidjane Thiam and Martin Blessing. HONG KONGHSBC Holdings PLC on Monday said its Asia-Pacific CEO Peter Wong is retiring and it has appointed two veteran bankers to take over the running of its business in the region. A five-bed, four bathroom 4000 sq ft apartment at Bowens Lookout is currently advertised at HK$280k per month. 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. Read the full media release: HSBC appoints David Liao and Surendra Rosha as Co-Chief Executives for Asia Pacific (PDF 34KB). David and Rosha will be promoted to Group Managing Director and will join the HBAP Board as Executive Directors. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. They will be based in Hong Kong, reporting directly to Noel Quinn, Group Chief Executive and will join the Group Executive Committee. Hitendra Dave has been appointed as Interim CEO of HSBC India, effective today, and he will be named as permanent CEO when full regulatory approval is received. Hitendra Dave was named interim CEO of HSBC India and will permanently take over the role following regulatory approval. Were pleased to announce the appointment of Wan Sze Loh as Head of Institutional Sales, Asia Pacific, with effect from 1 September 2022. Perched on the citys steep slopes, they are minutes from downtown. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. David has been with HSBC for 24 years, and previously served as President and CEO of HSBC China. Asia [is] expected to show high growth and become the center of global trade over the next decade, Gulliver said at the time. , the highest point on Hong Kong island, start at around $160k (14k) a month. Apartments in mid-levels Central are also popular among expats. Please dont call them veterans, that term refers to the former staff of less prestigious banks. Supporting Beijings national security law may give the bank greater profit potential in China in the medium to longer term, said Jeffrey Halley, senior market analyst for Asia Pacific OANDA. S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. The oldest executive at HSBC Holdings plc is Madam May-Lung Cha C.H.A., J.D., GBS, JP, BA, LLB, 71, who is the Advisor. However, HSBCs Asia pivot has shown up clearly in its earnings. Rosha has worked in financial services for nearly 30 years. We can only wonder what the cast of Industry will do with this trend if it catches on (it wont) (FT), Crypto investment banker Mike Novogratz got a tattoo of the Bitcoin logo a few weeks ago and promises hell get another one when the price reaches $500,000 (Bloomberg), Marty Chavez has joined Sixth Street Partners, an investment manager set up by fellow Goldman alumni. HSBC, a London-based bank with deep roots in Hong Kong, has long been a conduit between China and the West. As chair of Hong Kongs original bank, Wong will maintain his status among Hong Kongs taipans the citys most revered businessmen. Last year he sparked a backlash from the British and U.S. governments when he signed a petition backing China's imposition of a national security law on Hong Kong, breaking years of neutrality for the UK-based, Asia-focused lender. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. David Liao and Surendra Rosha have been appointed to succeed Wong, taking over the position as co-chief executives with immediate effect. https://www.wsj.com/articles/hsbc-replaces-top-executive-in-asia-11623044534. It alsohas implications going well beyond HSBC as a company, foranyone who might want to make a career in the Asia financial cities. I would also like to thank Peter for his extraordinary contribution to HSBC and for agreeing to continue to share his expertise as non-executive Chairman of HBAP. In recent days, Londonbased Standard Chartered bank and the citys traditional trading houses Swire Pacific and Jardine Matheson have also pledged support for Beijings controversial policy. Eventually it will unless its offensive or libelous (in which case it wont.). That was largely a ruse to dodge the cap on bankers bonuses that was imposed at the time by the UK financial regulator. On May 26, the Financial Times reported that HSBC board members were urging the company to make a tighter turn to Asian markets, which may include deeper cuts to the banks operations in the U.S. and Europe. The Hongkong and Shanghai Banking Corporation, Chinese People's Political Consultative Conference, "HSBC appoints David Liao and Surendra Rosha as Co-Chief Executives for Asia Pacific", China has HSBCs taipan in a vice with few options but to fall in line with the security law for Hong Kong in the banks biggest market, HSBCs Asia chief backs China security law for Hong Kong, https://en.wikipedia.org/w/index.php?title=Peter_Wong_(banker)&oldid=1142634491, Members of the Election Committee of Hong Kong, 20072012, Members of the Election Committee of Hong Kong, 20122017, Members of the Election Committee of Hong Kong, 20172021, Members of the Election Committee of Hong Kong, 20212026, Members of the Chinese People's Political Consultative Conference, Articles containing traditional Chinese-language text, Creative Commons Attribution-ShareAlike License 3.0, 1996: Appointed as the Director of Operating, Services, and Sales for, 2000: Appointed as Chief Executive for Hong Kong of Standard Chartered Bank, 2010: Appointed as the first Chinese Asia Pacific CEO of The Hongkong and Shanghai Banking Corporation, This page was last edited on 3 March 2023, at 14:50. 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. While HSBC ponders which man to choose, the situation is complicated by the lack of visibility on the Biden administration's China policy. +852 2822 4940 In fact, theres early evidence that its already taking place. The banking version of Game of Thrones is often quite disappointing in terms of its visual appeal, but there can still be a lot of entertainment in a good old-fashioned succession battle. I am also grateful to Laura Cha for her contribution to the Group and HBAP Boards over the past 16 years., In a joint statement, David Liao and Surendra Rosha said: We are taking over the helm of HSBC Asia Pacific at a very exciting time. Other appointments include Deputy Chairman of the Hong Kong General Chamber of Commerce; Council Member of Hong Kong Trade Development Council and a member of its Belt and Road Committee; and a Member of the Chongqing Mayors International Economic Advisory Council. In response, HSBC said its initial decision to suspend the account was completely unrelated to the Hong Kong Polices arrest of the four individuals.. In particular, the result of who comes out on top can often tell you more about long term strategy and priorities than a month of Investor Days. (. June 7 (Reuters) - HSBC (HSBA.L) said on Monday that its Asia Pacific Chief Executive Officer (CEO) Peter Wong will retire effective immediately, and is to be replaced by David Liao and Surendra Rosha who will jointly run the region. 4 more years of Trump may accelerate Chinas rise, How the U.S. could leverage Hong Kong to hurt Beijing. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. It is free to register and only takes a minute or two. WebThe HSBC International Employee Share Purchase Plan is an employee share purchase plan offered to employees in Hong Kong since 2013 and has been extended to further countries in the HSBC Group from 2014. Business Analyst, Strategic Transformation Program, 2023 Analytics & Sales Internship San Francisco, "Andrea Orcel is an excellent banker but his pay rise is extreme". Peter Wong has been HSBC Asia Pacifics chief since 2010. Mr Wongs endorsement of the Security Law last year was seen by many as a turning point in the democracy protests. After working overseas for a number of years I have often reflected from afar that Australias. He is from British Hong Kong. Reporting by Rachel Armstrong, Editing by Himani Sarkar, Philippines says Chinese navy ship spotted near disputed island, North Korea says US causing international arms control collapse, Exclusive: Nvidia's plans for sales to Huawei imperiled if U.S. tightens Huawei curbs-draft, China's economy, government revamp in focus as parliament set to open, American Airlines, flight attendants union seek mediation in contract negotiations, France's nuclear output hit by strike at EDF, U.S. CDC issues advisory after confirmed measles case in Kentucky, As space junk threat grows, government and investors seek solutions, Media report that UAE considering leaving OPEC not true - sources, Exclusive news, data and analytics for financial market professionals. Last updated: 1 March 2023 at 11:00am EST. Joshua Wong, a top pro-democracy activist in Hong Kong, denounced HSBCs decision Wednesday night in a statement on Twitter. Peter Wong Tung-shun, JP (Chinese: born November 1951, in British Hong Kong) is a Hong Kong banker associated with the HSBC and StanChart. Please dont call them veterans, that term refers to the former staff of less prestigious banks. Im looking forward to taking up my new role as HBAP Chairman, and am proud to have David and Rosha drive the next phase of growth in the region.. Wong may have protected HSBCs crucial Asia growth by trading Hong Kong for China, [but] the company has now taken sides in a hotly contested Hong Kong debate, the results of which remain unsettled for now.. Find thousands of job opportunities by signing up to eFinancialCareers today. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Some of these relocation perks are necessary such as housing,schooling,shipping costs plus a membership in Golf Club as these are all the things that will help them to focus on the work as they do not need to focus on housing, schooling for their children etc, 2023 eFinancialCareers - All rights reserved, One former HSBC banker said the expat package is superior and covers housing and schooling as well as shipping costs for personal belongings.