(Reuters) -Asia-focused lender HSBC on Thursday picked insider Maggie Ng as the chief executive of its Hong Kong arm, succeeding Luanne Lim who is being appointed as the CEO of Hang Seng Bank.
Hang Seng, in which HSBC has a near 64% stake, said in a separate statement that Lim would be taking over the role from Diana Cesar. Cesar is returning to HSBC as vice chairman of the banking major’s Hong Kong arm.
Ng joined HSBC in 2020 to lead the wealth and personal banking operations in Hong Kong. She has worked with Citi and Ernst & Young earlier, according to her LinkedIn profile.
Lim brings over 28 years of banking experience, including more than two decades at HSBC across six countries, covering back-office operations in emerging and developed markets, according to her profile on LinkedIn.
Cesar has previously served as CEO of HSBC Hong Kong from 2015 to 2021, after having joined the lender in 1999.
Cesar has led Hang Seng Bank through a challenging period, HSBC said.
(Reporting by Kumar Tanishk in Bengaluru; Editing by Maju Samuel)
