HSBC’s Fung gets new top Asia role
Position mirrors global reporting lines; French also promoted to global markets Asia role
Anita Fung has been promoted to the new role of head of global banking and markets Asia-Pacific at HSBC, the bank announced on January 25. She will also be responsible for global asset management in the region. The new role will broadly mirror that of Stuart Gulliver, the UK-based chief executive of global banking and markets and global asset management, said a senior source at the bank.
Fung, previously treasurer and head of global markets Asia-Pacific, will report locally to Peter Wong, the Hong-Kong based CEO of HSBC Group, and functionally to Robin Phillips and Saamir Assaf for global banking and markets and to John Flint for global asset management.
Aside from Fung, perhaps the biggest winner from the announcement is Gordon French, the charismatic Australian head of sales and treasury management, who will now succeed Fung as head of global markets Asia-Pacific. Less likely to be pleased is Frank Slevin, head of global banking Asia-Pacific, who will remain in his current role and report to Fung.
The creation of a global head of banking and markets Asia-Pacific is an attempt to bring the organization of that region’s platform in line with the global model.