HSBC private bank boss Chris Meares moves to Asia
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Chris Meares, General Manager of the private bank at the HSBC will be move to Hong Kong for a reshuffling management division, even if the company will remain based in London.
Mr. Meares Hong Kong displacement following HSBC Chief Executive Officer Michael Geoghegan at the beginning of the year.
Since several executives of HSBC are passed Hong Kong while Stuart Gulliver, which will be taken over as Chief Executive of Mr. Geoghegan in January will also move from London to Hong Kong.
Mr. Gulliver, leading banking HSBC global investment as well as its European operations, spent much of his career in Asia.
Speaking recently, he refused to confirm if the HSBC headquarters remain in London, growing speculation that the Bank could return to his house.
In September, Mr. Gulliver said it was "genuinely concerned" that independent banks appointed to the Government Commission may recommend separation of the retail and banking services of investment firms.
Hong Kong is eager to promote itself as an alternative to London and city officials have been visiting the United Kingdom to promote the benefits of travel undertaken there.
Standard Chartered, which has large Asian operations, is also seen as another bank that can move as its head office in London and its Chief Executive, Peter Sands, clear concerns about increasing the regulators in Europe and the United Kingdom quantity.
Decision of the HSBC pass the head of the private bank, Asia largely reflects the possibilities that the Bank sees to capture a greater slice of growing prosperity of Asia.
In a statement yesterday, HSBC said Mr. Meares, with other change management in its private bank was part of a strategy to "take advantage of the creation of wealth business in emerging markets."
