According to a release, Mr Patrick K W Chan will resign as Executive Director of Hang Seng Bank and will cease to be Head of Greater China of the Bank with effect from 1 May 2017 in order to pursue other new interests. Mr Chan has confirmed that he has no disagreement with the Board and that he is not aware of any matter relating to his resignation that needs to be brought to the attention of the shareholders of the Bank.
Ms Margaret W H Kwan, Head of Retail Banking and Wealth Management of the Bank, will be appointed as Executive Director of the Bank with effect from 13 May 2017.
According to the Articles of Association of the Bank, Ms Kwan’s appointment will cease after the conclusion of the Bank’s 2018 Annual General Meeting (“AGM”). Upon that time and subject to her election by the shareholders, the term of appointment of Ms Kwan as a Director of the Bank shall then be for three years, which will expire at the conclusion of the Bank’s AGM in 2021.
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