HSBC names new China head in latest management shake-up as Europe’s largest bank charts a course through coronavirus slump
- Mark Wang has overseen HSBC’s investment bank in China since June 2016
- Wang replaces David Liao, who will take another senior role at the lender
HSBC named Mark Wang Yunfeng, the head of its investment bank in China, to oversee its mainland operations in the latest executive shake-up under interim chief executive Noel Quinn.
Wang, who joined the bank in 2005, has overseen HSBC’s global banking and markets business in China since June 2016. Before HSBC, Wang held management roles at Bank of China and Deutsche Bank.
Upon receiving regulatory approval, he will succeed David Liao as president and chief executive of China. Liao will take another senior role in the bank, HSBC said.
“China is central to HSBC’s strategic aim of accelerating growth from its Asian franchise,” said Peter Wong, HSBC’s China chairman. “With his extensive banking experience, particularly in driving China-related business in trading and capital markets, Mark will lead one of the group’s most important markets, helping us to support our customers’ businesses within as well as outside the mainland.”
