HSBC promotes Citi director into hardest job in Hong Kong
Now is not an easy time to work in investor relations for HSBC. In recent weeks, their largest shareholder, Ping An Insurance Group has been very critical of their performance and wants the bank to restructure. It's not the only one that wants this. Other minority shareholders have gone so far as to hire lobbyists to increase the pressure on other investors.
Safe to say whoevers in charge of liasing with these groups will have a difficult time. The person that will be doing so in Hong Kong is HSBC's newest MD, Yafei Tian. She joins as head of investor relations for Asia Pacific from Citi where she was most recently a director working in equity research, covering financial stocks.
Although she's no newbie to the Hong Kong scene, Tian has spent most of her career elsewhere. She started with Credit Suisse in Singapore as a technologist, working on equities trading technology before moving to London. Straying away from tech-focused roles, she also worked for Citi in London as a VP before taking the promotion to director with a move back to Asia.
Ping An wants the bank to spin off its Asia business. Following HSBC's annual general meeting at the start of next month on May 5th, we will have a better idea of just how likely it will be for that demand to be delivered.
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