MARKETS | Cesar Tordesillas, Hong Kong

Cheang to replace Engel as HSBC regional director

Louisa Cheang, currently Head of Personal Financial Services Hong Kong, leads the list of HSBC’s senior executive appointments, which are still subject to board and regulatory approvals. She is slated to succeed Mr. Conrado Engel as Regional Director Personal Financial Services, Asia-Pacific effective 1 June 2009.Engel will return to Brazil to become Chief Executive Officer and President, HSBC Bank Brazil on 1 June 2009.Francesca McDonagh, Head of Personal Financial Services Panama since January 2007, will take up the appointment of Head of Personal Financial Services Hong Kong with effect from 1 July 2009.Simon Vaughan Johnson, Senior Executive Global Commercial Banking, has been appointed Regional Head of Commercial Banking for the Middle East. He will take the role by 5 July 2009.Shaun Wallis, Chief Executive Officer and President, HSBC Bank Brazil, has been appointed to a newly expanded role of Global Head of Business Management, Commercial Banking effective 22 June 2009. He will relocate to Hong Kong.Sandy Flockhart, HSBC Holdings plc Executive Director and CEO HSBC Asia-Pacific, said: "In all our businesses, HSBC’s competitive edge is its global expertise and international reach. Developing such internationalism among our top executives is vital. These appointments underpin the Group’s philosophy of providing its executives with opportunities for development and worldwide experience as well as strengthening its position as one of the world’s strongest emerging markets banks."

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