Hang Seng Bank names Fred Hu non-executive director

The economist will receive HK$340,000 per year while currently chairing Primavera Capital.

Hang Seng Bank has appointed former Goldman Sachs economist Fred Hu as a non-executive director, it said on Monday.

Hu will be paid a director's fee of HK$340,000 ($45,000) per year, the Hong Kong-based bank said in a statement reported in Reuters.

Hang Seng Bank is majority owned by HSBC Holdings Plc. Hu is currently chairman of Primavera Capital having left Goldman Sachs in March 2010.