HSBC's chief risk officer for Asia-Pacific, Ed Jenkins, will step down from his role due to family reasons, according to a Reuters report this morning.
Jenkins will leave the Asian-focused UK bank on 1 July, the report said, after a 10-year career at the lender. However, according to an internal memo seen by Reuters, Jenkins intends to leave on sabatical and return later in the year.
It is understood Mark McKeown, whom Jenkins succeeded, will return to Hong Kong and resume his old role on an interim basis.
HSBC is in the midst of a major overhaul of its global operations in an effort to shed under-performing assets and markets, and drastically reduce costs.
This weekend the Daily Telegraph reported that HSBC, which is headquarted in the UK yet has most of its interests in China, has warned the British government it risks suffering "reprisals" from Beijing if the UK presses ahead with outlawing 5G networking equipment by Huawei.