Anita Fung quits as HSBC's HK chief

The Hong Kong chief executive, who has been with HSBC for nearly two decades, will leave the bank in a month's time.

HSBC's Hong Kong chief executive officer Anita Fung will leave the firm mid-February, according to an internal memo seen by FinanceAsia.

Fung, a two-decade veteran of the bank, will pursue other opportunities outside the company, the memo said, without specifying.

FinanceAsia was unable to immediately reach her for comment.

Helen Wong, currently CEO and president of HSBC China, has been appointed CEO of Greater China, and will oversee China, Hong Kong and Taiwan. It is a newly-created position and is effective March 1. Wong will take over Fung's responsibilities until HSBC finds a permanent replacement, HSBC said.

Wong reports to Peter Wong, deputy chairman and chief executive of HSBC Asia Pacific, and joined HSBC in 1992. She has held a number of senior management roles in global banking and markets and led the bank's expansion into mainland China, having been appointed deputy chief executive officer of HSBC China in 2009 and president and CEO in 2010. 

David Liao, currently head of global banking and markets for HSBC China, will succeed Wong as president and CEO of HSBC China. He has worked on the bank's China team since 2005 and will continue to report to Wong in his new role.

John Li, president and CEO of HSBC Taiwan, will report to Wong starting March 1.

Fung has been CEO of HSBC's Hong Kong division since 2011. She was previously head of global banking and markets for Asia Pacific in 2010, and before that treasurer and head of global markets for the region for five years.

She joined HSBC in 1996 as head of domestic markets in Hong Kong and was later appointed head of trading for Asia Pacific, where she was responsible for trading and market risk management across HSBC's operations in the region.

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