Anita Fung is appointed Hong Kong CEO for HSBC, in addition to her role as global banking and markets chief, after the departure of Mark McCombe to BlackRock.
Despite declaring strong profit growth and a stellar year in global banking and markets, HSBC's share price fell yesterday as investors questioned the higher costs and a reduced return-on-equity target.
HSBC has a good quarter bolstered by global banking and markets and its Asia businesses, but cautions that this may not be sustainable. The results show that impairments are on the rise.