Frank Fang has been named head of commercial banking for China at HSBC, less than a year after leaving his corporate banking role with the same firm to join Deutsche Bank.
His return forms part of a reshuffle, first reported by our sister publication The Corporate Treasurer, sparked by the retirment of 40-year HSBC veteran Albert Chan, who will step down as Hong Kong head of commercial banking on July 1.
Terence Chiu, who previously served as head of commercial banking for China, will move to Hong Kong as Chan's replacement.
Although Chiu is taking on the same job title for a different region, a HSBC spokesman told CT the move represented a promotion, as Hong Kong is by far the bank's biggest commercial business.
Chiu has worked as HSBC’s head of global trade and receivables, before which he was head of trade and supply chain for Hong Kong, according to his Bloomberg profile.
Fang was head of corporate banking coverage in China at Deutsche Bank. He will be based in Shanghai. In his previous 25-year spell at HSBC, Fang took on a number of product and client coverage roles, most recently head of corporate banking for China.
Chiu will report to Stuart Tait, regional head of commercial banking in Asia Pacific, and will serve on the Hong Kong executive committee. Fang will also report to Tait, as well as David Liao, president and chief executive of HSBC China.
