HSBCs 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. David Liao and Surendra Rosha have been appointed to succeed Wong, taking over the positionas co-chief executives withimmediate effect. I am very excited to have David and Rosha join the Group Executive Committee. Peter Wongs income source is mostly from being a successful . As of 2018, according to the Reuters special report, Mr Orcel might have had as much as 55m invested in the UBS long term incentive scheme, all of which was forfeit if he went to work for another bank. The banks iconic lion sculptures, which have sat outside HSBCs Asia headquarters in downtown Hong Kong since it moved to the building in 1935, were spray-painted and set on fire. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Our ski trip made me question my life choices, Michelle Yeoh: Finally we are being seen, Apocalypse then: lessons from history in tackling climate shocks, How Glasgows tiny, muckraking crime mag stays afloat. Peter Wong, HSBC Deputy Chairman and Chief Executive for Asia Pacific, said Mr. FitzGeralds international banking experience and strong expertise in client relationship management will be invaluable to the bank. Today is my first day as CEO of HSBC Australia. heidi.ashley@hsbc.com, May Kek Peter joined HSBC in 2005 and became a Group Managing Director in 2010. He is Chairman and non-executive Director of HSBC Bank (China) Company Limited and a non-executive Director of Hang Seng Bank Limited. Hitendra Dave was named interim CEO of HSBC India and will permanently take over the role following regulatory approval. technique - and why do banks like it? Prices to rent a four-bedroom apartment on. Please be aware that the external site policies, or those of another HSBC Group website, may differ from our website terms and conditions and privacy policy. WebPeter Wong Net Worth. may.y.m.kek@hsbc.com.hk. Build your career at HSBC. 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. Apartments in mid-levels Central are also popular among expats. HSBC did not announce where the cuts would come from, but Quinn said resources would be redistributed from underperforming areas to faster-growing markets like Asia and the Middle East. He retired as CEO of HSBC Asia Pacific and became non-executive chairman of The Hongkong and Shanghai Banking Corporation, effective 7 June 2021. As of 2018, according to the Reuters special report, Mr Orcel might have had as much as 55m invested in the UBS long term incentive scheme, all of which was forfeit if he went to work for another bank. (Bloomberg), Shorts in the office, yes or no? 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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. After working overseas for a number of years I have often reflected from afar that Australias. He joined HSBC in 1991 in India, where he worked in a variety of roles including in FX trading, Corporate Treasury Sales and as Head of Sales, Treasury and Capital Markets for India. HSBC today announces that David Liao and Surendra Rosha have been appointed Co-Chief Executives of HSBC Asia Pacific, taking over from Peter Wong with immediate effect. 01:36 Meanwhile, fees for two children at the international school start at an average of HK$432k per year bringing the total for accommodation and education to more than HK$3m a year. Formerly known as the Hong Kong and Shanghai Banking Corporation, HSBC was founded in 1865 in Hong Kong, just decades after China was forced to cede Hong Kong to the U.K. after the first Opium War. The pre-tax profit from Asia-Pacific in the first nine months this year represents 80 per cent of the total, compared with only 34 per cent in 2005 when Wong joined. It alsohas implications going well beyond HSBC as a company, foranyone who might want to make a career in the Asia financial cities. 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. What is the S.T.A.R. Our Standards: The Thomson Reuters Trust Principles. Please sign in or register to comment. Peter T. S. Wong serves as Group Managing Director; Deputy Chairman and Chief Executive Officer - The Hongkong and Shanghai Banking Corporation Limited of the Company. Were pleased to announce the appointment of Wan Sze Loh as Head of Institutional Sales, Asia Pacific, with effect from 1 September 2022. In February, the bank announced a restructuring plan to cut roughly 35,000 jobs. Were pleased to announce the appointment of Wan Sze Loh as Head of Institutional Sales, Asia Pacific, with effect from 1 September 2022. Whatsapp/Signal/Telegram also available. David has been with HSBC for 24 years, and previously served as President and CEO of HSBC China. The Kadoorie Estate in Kowloon is an exclusive residential community that has long been one of Hong Kongs best kept secrets. Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today. You may change or cancel your subscription or trial at any time online. 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According to one Italian business newspaper, Andrea Orcel is in pole position for the Unicredit job, although there is no source given beyond rumours and they dont exactly help the storys credibility by referring to him as an ex Credit Suisse banker. 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. HSBCs 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. WebMore activity by Peter. Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. On this Wikipedia the language links are at the top of the page across from the article title. The pandemics social-distancing measures that quelled protests in early 2020 provided a temporary reprieve for HSBCs Hong Kong locations, but the demonstrations have resurged in the wake of Beijings national security law. He brings extensive experience growing franchises and supporting clients during a transformative period for the economy and capital markets of China and Asia. Chief executives tend to be replaced by board committees and transparent processes, after all. 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. David, formerly Head of Global Banking Asia Pacific, and Surendra (known widely by his last name, Rosha), formerly CEO of HSBC India, will share panregional leadership responsibilities that include jointly leading regional businesses and functions, embedding purpose, values and culture, developing leadership and talent and overseeing risk, capital and liquidity levels. This will generate unprecedented opportunities both for the bank and for our customers. We have estimated Peter Wong's net worth , money, salary, income, and assets. journalists in 50+ countries covering politics, business, innovation, trends and more. There are 3 older and 37 younger executives at HSBC plc. Premium access for businesses and educational institutions. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for $69 per month. Can it survive in a socially distanced world? (. Bloomberg reports that Peter Wong, HSBC's regional chief in Asia is unhappy with the cost of the relocations. Joshua Wong, a top pro-democracy activist in Hong Kong, denounced HSBCs decision Wednesday night in a statement on Twitter. See here for a complete list of exchanges and delays. It isn't necessarily a bad thing that both HSBC candidates are men, just the same as it wouldnt necessarily be a bad thing if they were both women. Peter Wong said, It has been a tremendous honour to lead HSBC in the region and I am proud of the work we continue to do to open up a world of opportunities for our customers. 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. , the highest point on Hong Kong island, start at around $160k (14k) a month. Yet in the wake of HSBCs bleak earnings report for the first quarter of 2020pretax profit fell nearly 50% compared with the same period last yearsome analysts predict that the banks turn toward Asia could become even more dramatic. Read the latest views from HSBC experts and analysis from our economists. Bloomberg reports that Peter Wong, HSBC's regional chief in Asia is unhappy with the cost of the relocations. Standard Digital includes access to a wealth of global news, analysis and expert opinion. The possibility is, however, fascinating to contemplate. For non-personal use or to order multiple copies, please contact There are 3 older and 37 younger executives at HSBC plc. Even as Asia increasingly bolsters the companys bottom line, the banks future still relies a great deal on pacifying authorities in the U.S., who have threatened sanctions against entities seen as involved in eroding Hong Kongs autonomy.. 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. WebPeter Wong Net Worth. [1/2]HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.