Senior HSBC mainland China banker defects to Bank of America
- Zhang Wenjie named Bank of America’s president of China
- Zhang was most recently HSBC’s co-head of global banking and executive vice-president of China
Former senior HSBC mainland China banker Zhang Wenjie has jumped to Bank of America as a managing director and president of China, helping the Charlotte, North Carolina-headquartered bank navigate the world’s second-largest economy.
Zhang also will be named Bank of America’s Shanghai branch manager, subject to regulatory approval, according to an internal memo seen by the Post. His role will involve driving new business and working with local regulators.
He will be based in Shanghai and report to Wei Wang, Bank of America’s China country executive based in Hong Kong. A spokeswoman for Bank of America confirmed the contents of the memo but declined to comment further.
Zhang, who was based in Beijing, most recently served as HSBC’s co-head of global banking and executive vice-president of China, alongside Eddie Ching. Before HSBC, Zhang worked at JP Morgan.
Zhang fills a position at Bank of America that has lain vacant since the departure of Anthony Lin to Standard Chartered in 2017. He will focus mostly on serving financial institutions, corporate banking and transaction banking.