HSBC’s Poon Transferred to Hang Seng China Unit as Deputy Chief

HSBC Holdings Plc (HSBA)’s Thomas Poon has been transferred to unit Hang Seng Bank Ltd. (11)’s China subsidiary as its designate deputy chief executive, the second-largest Hong Kong-based lender said yesterday.

Poon, formerly head of business and strategy for Hong Kong at HSBC, will also become the deputy head of corporate and commercial banking at Hang Seng Bank (China) Ltd., Hang Seng’s spokeswoman Agnes Tin said in an e-mailed response to Bloomberg questions. He will report to the lender’s head of corporate and commercial banking Jethro Lau, according to Tin.

The posting will be subject to the China Banking Regulatory Commission’s approval, Tin said. Once the authority approves, Poon will be one of the six deputy chief executives of Hang Seng China, she said in the e-mail.

To contact the reporter on this story: Fion Li in Hong Kong at fli59@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

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