• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • People Moves

HSBC names new China head

HSBC names new China head
  • Pedro Gonçalves
  • @PeterHSG
  • 11 March 2020
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

HSBC has appointed Mark Yunfeng Wang as president and chief executive officer of its China business,a major focus for the bank, in what is the latest in a series of senior management changes under interim chief executive Noel Quinn.

Wang, who joined the bank in 2005, has overseen HSBC's global banking and markets business in China since June 2016. Before HSBC, he held management roles at Bank of China and Deutsche Bank.

Related articles

  • HSBC Greater China chief quits
  • HSBC announces head of new wealth and personal banking arm for Asia
  • HSBC chief executive John Flint ousted as bank seeks to 'meet challenges'
  • HSBC appoints Noel Quinn as CEO after flirting with outsiders

China is one of HSBC's most important markets in Asia, where it derives about 80% of its earnings. It is among the largest foreign banks in the country and past chief executives have dedicated the group to expansion there.

China is central to HSBC's strategic aim of accelerating growth from its Asian franchise"

"China is central to HSBC's strategic aim of accelerating growth from its Asian franchise," said Peter Wong, HSBC's China chairman. "With his extensive banking experience, particularly in driving China-related business in trading and capital markets, Mark will lead one of the group's most important markets, helping us to support our customers' businesses within as well as outside the mainland."

HSBC interim group CEO Noel Quinn last month announced a drastic overhaul of the bank, slashing 35,000 jobs in its European and US businesses. Its Asian business, which accounts for most of its profits, was left comparatively unscathed.

Quinn replaced John Flint in August, after the bank's chairman Mark Tucker said a "different approach" was needed to navigate the more challenging environment faced by HSBC. Flint was in the job for just 18 months.

Helen Wong, HSBC's then head of greater China, which includes the bank's key market of Hong Kong, departed days after Flint, and now runs Singaporean bank OCBC's wholesale banking division.

HSBC recently came under fire in China last year after the bank provided information that helped US prosecutors build a case against Huawei executive Meng Wanzhou for alleged business dealings with Iran, in contravention of US sanctions.

Current China CEO David Liao will move to another senior position in the group, the bank said.

 

Subscribe to International Investment's free, twice-daily, newsletter

 

 

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • People Moves
  • HSBC
  • China
  • Asia

More on People Moves

People moves: Mediolanum Int'l Funds appoints head of multi-manager

  • People Moves
  • 25 January 2021
Raft of Robeco departures help Credit Suisse build ESG strategy

  • People Moves
  • 22 January 2021
People moves: Kingsley Napley, IQ-EQ, Brewin Dolphin, Crown Agents Bank

  • People Moves
  • 22 January 2021
Vontobel expands its emerging markets fixed income team

  • People Moves
  • 13 January 2021
People moves: IQ-EQ, AllianceBernstein, Beaufort Group, BCS Global Markets, Tyndall IM, TMF Group

  • People Moves
  • 12 January 2021
Back to Top

Most read

Brexit deals hefty blow to City but industry is ready to fight back
Brexit deals hefty blow to City but industry is ready to fight back
More than 250,000 expats left Saudi Arabia in 3Q2020
More than 250,000 expats left Saudi Arabia in 3Q2020
FSCS warns industry of £1bn compensation bill
FSCS warns industry of £1bn compensation bill
Comment: Are cryptocurrencies the new gold?
Comment: Are cryptocurrencies the new gold?
Dubai regulator to develop cryptocurrency framework
Dubai regulator to develop cryptocurrency framework
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading