HSBC names Asia co-heads for commercial banking biz

People walk past a major branch of HSBC at the financial Central district in Hong Kong, China February 21, 2017. REUTERS/Bobby Yip

HSBC Holdings PLC appointed two executives to run its Asia Pacific commercial banking business as the London-headquartered lender steps up its focus on the region to boost growth.

Amanda Murphy, currently the head of its commercial banking business in Britain, will lead commercial banking operations in South and Southeast Asia, and be based in Singapore, HSBC said in a statement on Monday.

Hong Kong-based Frank Fang, who currently heads commercial banking for Hong Kong and Macau, will continue to lead the businesses in both markets and support clients as they capture opportunities arising from the Greater Bay Area, HSBC said.

Both executives will jointly lead the Asian commercial banking business and report to Barry O’Byrne, Hong Kong-based CEO for HSBC‘s global commercial banking.

HSBC CEO Noel Quinn is betting on Asia to drive growth by moving global executives there and ploughing billions into lucrative wealth management and other businesses.

HSBC‘s global commercial banking business generated revenue of $13.3 billion on an adjusted basis last year, out of which the Asia Pacific franchise contributed $6 billion.

“Expanding our Asia Pacific leadership team underscores the importance of the region to our strategy,” said O’Byrne. “It also enhances the coverage of our clients in this key growth region where we are already the leading international wholesale bank.”

The appointments are effective Dec. 1.

HSBC also said that Joseph Ma, the head of its China commercial banking, will now report to O’Byrne. Stuart Tait, who has been leading Asia Pacific commercial banking, will take up Murphy’s role.

Murphy will also have oversight of HSBC‘s local commercial banking franchises in India, Southeast Asia, Australia and international markets.

Reuters 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.