HSBC today announces that David Liao and Surendra Rosha have been appointed Co-Chief Executives of HSBC Asia Pacific, taking over from Peter Wong with immediate effect.
David Liao, formerly Head of Global Banking Asia Pacific, and Surendra Rosha, formerly CEO of HSBC India, will share panregional leadership responsibilities that include jointly leading regional businesses and functions, embedding purpose, values and culture, developing leadership and talent and overseeing risk, capital and liquidity levels.
David Liao and Surendra Rosha will be promoted to Group Managing Director and will join the HBAP Board as Executive Directors. They will be based in Hong Kong, reporting directly to Noel Quinn, Group Chief Executive and will join the Group Executive Committee.
The region will continue to be run as a single entity, jointly managed. Liao and Rosha will share the reporting lines for the markets in Asia Pacific between them.
Peter Wong will step into the role of non-executive Chairman of HBAP, replacing Laura Cha, who has also stepped down as non-executive Director of HSBC Holdings. He will also serve as an adviser to Group Chairman Mark Tucker and Group CEO Noel Quinn.
“I am very excited to have David and Rosha join the Group Executive Committee. Their collective experience of our markets across Asia Pacific, together with their combined knowledge of the bank and our customers mean they are ideally placed to grow the business. 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 world’s most dynamic region,” said Group CEO Noel Quinn.
