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HSBC’s Hong Kong CEO to take over as top executive at Hang Seng Bank on September 1
- Diana Cesar will replace Louisa Cheang Wai-wan, who is extending her medical leave of absence
- Cheang is expected to return as an HSBC executive ‘in due course’, HSBC says
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Diana Cesar, HSBC’s Hong Kong CEO, will take over as the top executive at Hang Seng Bank on September 1, after Hang Seng’s vice-chairman and CEO, Louisa Cheang Wai-wan, extended her leave of absence as she recovers from a medical condition first disclosed last year, the banks said on Monday.
Hang Seng announced that Cheang would take a three-month leave of absence beginning in May after announcing in July 2020 that she was undergoing treatment for a “recently diagnosed medical condition”, without elaborating.
“Diana is the right person to build on Louisa’s record and take Hang Seng to the next level,” David Liao, HSBC’s Asia-Pacific co-CEO, said in a statement. “Hong Kong has a bright future, and under Diana’s direction, Hang Seng will be there to help our customers make the most of new opportunities.”
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Liao will become a non-executive director of Hang Seng Bank on September 1 as well, Hang Seng said in a stock exchange filing. He will replace Peter Wong Tung-shun, who has retired from his role as Asia-Pacific CEO and has moved into a non-executive chairman role at HSBC.
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Hang Seng is a 62.1 per cent subsidiary of HSBC and a major retail bank in Hong Kong. Following her medical leave of absence, Cheang is expected to return as an HSBC executive “in due course”, HSBC said.
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