HSBC Holdings Plc appointed Jack Yang as chief financial officer for Asia and the Middle East, the latest leadership shift as Chief Executive Officer Georges Elhedery overhauls the lender.
Yang, who joined HSBC in 2009, most recently served as regional treasurer and at the bank’s international wealth and premier banking unit. He succeeds Ming Lau, who departed for a role at Manulife Financial Corp.
An HSBC spokesperson confirmed the appointment, subject to regulatory approval. It will be effective April 13.
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The shift comes as Elhedery, who took the helm in 2024, moves to flatten the bank’s hierarchy and reduce costs. Under his tenure, the firm has cut thousands of jobs and sold, merged or closed some businesses.
