Peter Wong: A steady hand in a crisis
As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our May Asia focus.
“If there’s one thing I have learned in my career it is how to deal with a crisis because I have lived through so many of them,” says Peter Wong, a 40-year veteran of banking in Asia and today chief executive of Asia Pacific at HSBC.
In the early 1980s, US Fed tightening led to rising rates and a round of defaults and delinquencies in Hong Kong. In September 1983, Black Saturday saw a collapse of the Hong Kong dollar because of uncertainties about the future of Hong Kong and the Sino-British agreement, which a month later led to the HK dollar being pegged to the US dollar. Then there was the 1987 global stock market crash.