HSBC inks deal with LG, appoints Vietnam payments head

HSBC wins a cash management mandate from LG Innotek, and appoints a new head of payments and cash management in Vietnam.

Korean conglomerate LG Innotek has appointed HSBC as its cash management provider for its subsidiaries in mainland China. LG Innotek manufactures electronic components for mobile phones, computers, wireless communications products and cars, and is more commonly known as LG.

“We are thrilled to be partnering with LG Innotek. As innovative Korean chaebols like LG Innotek expand into China, they are able to leverage on HSBC’s extensive network and in depth local knowledge of key regulatory issues,” said HSBC's new head of global payments and cash management in China, Kee Joo Wong in a statement. “As China’s largest foreign bank, we are well positioned as a global banking provider to offer...

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