Shifts in senior personnel continue with the latest resignation of HSBC’s head of Greater China who leaves after 27 years with the British lender.
Helen Wong exits the bank to pursue external opportunities, according to an HSBC spokesperson who added that her July decision to leave the bank had no links with the recent exit of global CEO John Flint.
Wong began her 27-year HSBC career in 1992 and took over the newly created role of Greater China chief in 2015. Following Wong’s exit, the role will no longer exist and the three individual segments, Hong Kong, China and Taiwan, would be run by their own market heads.
«Our growth strategy in China is unchanged. HSBC has been steadfast in its commitment to China for over 150 years,» the spokesperson said, in a «Reuters» report. «We will continue to support China’s growth and economic prosperity going forward.»
Greater China Pains
Wong's exit occurs amid numerous shuffles at the HSBC's senior levels and a drive to cut more than 4,000 jobs globally. But jobs are not the only headline issue, especially in the region where existing headwinds already include an ongoing trade war and unrest in Hong Kong.
Tensions between the bank and China have risen recently due to allegations that HSBC provided information that helped US prosecutors build a case against Huawei and its CFO, Meng Wanzhou. The bank has been lobbying to convince China that it was not responsible for Meng's arrest and insisted that the U.S. Department of Justice had applied great pressure to share information.
