HSBC to split Asia-Pacific global banking role between two executives
- Stuart Lea, Dai Kitamura are set to serve as co-heads of global banking coverage in the region
- Appointments come as David Liao, former head of global banking for Asia-Pacific, moves into co-CEO role for the region
Stuart Lea will become head of global banking coverage for South Asia and will relocate to Singapore later this year, according to an internal memorandum seen by the South China Morning Post.
Dai Kitamura, currently head of corporate banking for Asia-Pacific, will become interim head of global banking coverage for North Asia while HSBC conducts an internal and external search for a permanent leader, according to the memo. Kitamura, who is based in Hong Kong and is a candidate for the permanent role, will oversee all of global banking in the region until Lea relocates, the memo said.
“To fully capture our significant opportunities in Asia, we are creating joint leaders who will have responsibility for integrated risk management and coordination with product partners across the region, leading coverage in North Asia and South Asia,” Greg Guyett, co-CEO for global banking and markets, said in the memo. “This will enable a deeper focus on all countries where we have ambition to grow the HSBC franchise.”
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An HSBC spokeswoman confirmed the contents of the memo.
The 156-year-old lender was founded in Hong Kong and Shanghai, but shifted its headquarters to London in 1993 following the acquisition of Midland Bank.