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February 15, 2022

HSBC appoints new chief for Hong Kong business

British banking giant HSBC has named Luanne Lim as the new CEO of its Hong Kong business as the bank seeks to bolster its investment across the Asia region.

Lim, who has over 25 years of experience in the banking industry, has been serving as the interim CEO of HSBC Hong Kong.

She joined the bank in Singapore in 1999 and has held several key positions across various Asian markets, including in Hong Kong, mainland China, Indonesia, Malaysia, Singapore, and Vietnam.

This includes her role as HSBC Hong Kong COO from 2017 to 2021.

Commenting on the appointment, HSBC Asia Pacific Co-CEO David Liao said: “Luanne was the standout candidate for this role. Over the last six months, she has demonstrated a combination of natural leadership with a deep understanding of both the industry and how HSBC’s global aspirations fit within it.

Her proven energy and skill in delivering results that support our commercial and operational goals is what we need as we continue to transform to meet the opportunities for growth here in Hong Kong and beyond.”

HSBC is planning to invest over $6bn in Asia over the next five years with the aim of establishing its prominence in the region’s wealth management space, according to a report by Reuters.

In 2020, a senior HSBC executive told Reuters the bank is expecting to register double-digit asset growth in its wealth business in the Asia Pacific by 2023.

Lim commented: “I am honoured by this tremendous opportunity to lead HSBC in Hong Kong. This is an exceptional time to be part of HSBC as we accelerate our investment in Asia. We are an integral part of Hong Kong and are committed to supporting our communities and the businesses that are their lifeblood.”

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