Terms & Conditions. We are investing US$6bn in Asia in the next 5 years and David and Rosha will lead this next phase of our Asia strategy as we focus on expanding and diversifying our presence across the worlds most dynamic region, said Group CEO Noel Quinn. 01:36 We have estimated Peter Wong's net worth , money, salary, income, and assets. HSBCs Asia Pacific CEO Peter Wong is retiring from his position and will become a non-executive chairman of The Hongkong and Shanghai Banking Corporation (HBAP). Eventually it will unless its offensive or libelous (in which case it wont.). Note: HSBC is not responsible for any content on third party sites, nor does a link suggest endorsement of those sites and/or their content. In 2019, those figures had grown to 49% and 90%, respectively. They will be based in Hong Kong, reporting directly to Noel Quinn, Group Chief Executive and will join the Group Executive Committee. our Subscriber Agreement and by copyright law. Chief executives tend to be replaced by board committees and transparent processes, after all. Mr Wang, on the other hand, grew up in Nanjing and runs HSBC Bank China. [email protected]. For cost savings, you can change your plan at any time online in the Settings & Account section. As HSBC moves its senior executives to Hong Kong, some of their relocation packages are reportedly causing problems. Please sign in or register to comment. journalists in 50+ countries covering politics, business, innovation, trends and more. Last updated: 1 March 2023 at 11:00am EST. Build your career at HSBC. So, how much is Peter Wong worth at the age of 71 years old? Other appointments include Deputy Chairman of the Hong Kong General Chamber of Commerce; Council Member of Hong Kong Trade Development Council and a member of its Belt and Road Committee; and a Member of the Chongqing Mayors International Economic Advisory Council. Check if your In Hong Kong, at least, it seems its Beijing-side up. The next site will open in a new browser window. For every three shares in HSBC Holdings plc purchased by an employee (Investment Shares), a conditional award to acquire one Elsewhere, on the one hand you have a big Italian bank with M&A ambitions thats in need of a CEO; on the other hand you have Europes top banking M&A rainmaker sitting on the sidelines, who just happens to be Italian and to have a business plan for a European megabank in his desk drawer. HSBC, a London-based bank with deep roots in Hong Kong, has long been a conduit between China and the West. Peter Wong Tung-shun, JP (Chinese: born November 1951, in British Hong Kong) is a Hong Kong banker associated with the HSBC and StanChart. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices Liked by Peter Wong. How standard depends on whether they agree to move on expat or local terms. For non-personal use or to order multiple copies, please contact Mr Liao is the younger of the two and is head of APAC Global Banking, which includes the investment bank. WebMore activity by Peter. Today is my first day as CEO of HSBC Australia. HSBC serves customers worldwide from offices in 64 countries and territories in our geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. He is from British Hong Kong. Peter Wong is 68, he's been the Group Managing Director; Deputy Chairman and Chief Executive Officer - The Hongkong and Shanghai Banking Corporation Limited of HSBC plc since 2015. In 2014, 37% of HSBCs revenue and 70% of its profit came from Asia. Some of that might have vested in the meantime; if it was linked to the UBS share price then he will have lost about 10% on the stock but made back slightly more on the Swiss franc exchange rate. Im looking forward to taking up my new role as HBAP Chairman, and am proud to have David and Rosha drive the next phase of growth in the region.. HONG KONGHSBC Holdings PLC on Monday said its Asia-Pacific CEO Peter Wong is retiring and it has appointed two veteran bankers to take over the running of its business in the region. Even before HSBCs statement Wednesday, Hong Kongs pro-democracy camp speculated that HSBC is swayed by Beijings interests, an accusation the bank denies. The banks iconic lion sculptures, which have sat outside HSBCs Asia headquarters in downtown Hong Kong since it moved to the building in 1935, were spray-painted and set on fire. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. How the biggest companies plan mass lay-offs, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Our ski trip made me question my life choices, Michelle Yeoh: Finally we are being seen, Apocalypse then: lessons from history in tackling climate shocks, How Glasgows tiny, muckraking crime mag stays afloat. Business Analyst, Strategic Transformation Program, 2023 Analytics & Sales Internship San Francisco, "Andrea Orcel is an excellent banker but his pay rise is extreme". However, HSBCs Asia pivot has shown up clearly in its earnings. HSBC has offices in 64 countries and territories across Africa, Asia, Oceania, Europe, North America, and South America, serving around 40 million customers. and other data for a number of reasons, such as keeping FT Sites reliable and secure, Protesters were unconvinced, and vandalized multiple retail outlets and ATM machines across the city during marches in late December and early January. The London-headquartered banking giant named David Liao and Surendra Rosha as Asia-Pacific co-CEOs with immediate effect, giving them oversight of a business that is HSBCs .css-1h1us5y-StyledLink{color:var(--interactive-text-color);-webkit-text-decoration:underline;text-decoration:underline;}.css-1h1us5y-StyledLink:hover{-webkit-text-decoration:none;text-decoration:none;}biggest profit generator. All rights reserved. Perched on the citys steep slopes, they are minutes from downtown. Hitendra Dave has been appointed as Interim CEO of HSBC India, effective today, and he will be named as permanent CEO when full regulatory approval is received. As of 2018, according to the Reuters special report, Mr Orcel might have had as much as 55m invested in the UBS long term incentive scheme, all of which was forfeit if he went to work for another bank. The police accused Spark of using the funds for personal gain, paying protesters, and other illegal activities., Spark denounced the accusations as a smear campaign orchestrated by Beijing. Last year he sparked a backlash from the British and U.S. governments when he signed a petition backing China's imposition of a national security law on Hong Kong, breaking years of neutrality for the UK-based, Asia-focused lender. Our Standards: The Thomson Reuters Trust Principles. All Rights Reserved. The fired Google engineer who thought its A.I. We can only wonder what the cast of Industry will do with this trend if it catches on (it wont) (FT), Crypto investment banker Mike Novogratz got a tattoo of the Bitcoin logo a few weeks ago and promises hell get another one when the price reaches $500,000 (Bloomberg), Marty Chavez has joined Sixth Street Partners, an investment manager set up by fellow Goldman alumni. The possibility is, however, fascinating to contemplate. Find the latest media releases, HSBC news, speeches and award wins. He retired as CEO of HSBC Asia Pacific and became non-executive chairman of The Hongkong and Shanghai Banking Corporation, effective 7 June 2021. (Bloomberg), Have a confidential story, tip, or comment youd like to share? He retired as CEO of HSBC Asia Pacific and became non-executive chairman of The Hongkong and Shanghai Banking Corporation, effective 7 June 2021. 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News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. HSBC Holdings plc is a British multinational universal bank and financial services holding company. Peter Wong is 68, he's been the Group Managing Director; Deputy Chairman and Chief Executive Officer - The Hongkong and Shanghai Banking Corporation Limited of HSBC plc since 2015. The move was understood as politically necessary to avoid punitive action against the bank by Beijing but drew widespread international and local Hong Kong criticism.[3][5]. Mr Wongs endorsement of the Security Law last year was seen by many as a turning point in the democracy protests. Critics view the law as subverting the one country, two systems agreement that has provided the city with relative independence and autonomy from mainland China since it was handed over from the U.K. in 1997. All Rights Reserved. So, how much is Peter Wong worth at the age of 71 years old? Formerly known as the Hong Kong and Shanghai Banking Corporation, HSBC was founded in 1865 in Hong Kong, just decades after China was forced to cede Hong Kong to the U.K. after the first Opium War. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. David Liao and Surendra Rosha have been appointed to succeed Wong, taking over the position as co-chief executives with immediate effect. At a time when the bank is cutting costs, it's easy to see why Wong is annoyed. They also escape the senior managers' regime. Another expat banker said that golf or country club membership will likely be included because its seen as a sought-after perk in Hong Kong. 2023 eFinancialCareers - All rights reserved, The banking version of Game of Thrones is often quite disappointing in terms of its visual appeal, but there can still be a lot of entertainment in a good old-fashioned. David Liao and Surendra Rosha have been appointed to succeed Wong, taking over the position as co-chief executives with immediate effect. . Find information about our performance, dividends, and investor events. The full relocation packages could therefore easily cost HSBC HK6.5m a year for each executive transferred. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs.
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