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HSBC to split Asia-Pacific taipan role between two co-heads in latest management shake-up
- David Liao, head of Asia-Pacific global banking, and Surendra Rosha, India CEO, to serve as Asia co-heads
- Peter Wong to move into non-executive chairman role
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HSBC, Hong Kong’s biggest currency-issuing bank, plans to split its top job in Asia-Pacific between two executives when its taipan Peter Wong Tung-shun steps back from a day-to-day role later this year, according to people familiar with the matter.
The role will be split between David Liao, who heads Asia-Pacific global banking and formerly ran the bank’s China business, and Surendra Rosha, who is CEO of the India business, said the people, who were not authorised to discuss the matter publicly. Liao moved into the global banking role last year.
Wong, deputy chairman and Asia-Pacific CEO, will move into a non-executive chairman role as part of the transition.
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A HSBC spokeswoman declined to comment on Friday, while Wong could not immediately be reached for comment.
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It is not uncommon for banks to split global roles, such as heads of investment banking divisions, between multiple executives to broaden a company’s bench and protect against any business slowdown from a key executive leaving.
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