HSBC loses HK chief to BlackRock
Mark McCombe, the chief executive of HSBC Hong Kong and regarded as a potential successor to Stuart Gulliver, group chief executive, is leaving the bank to head BlackRock Asset Management’s Asia business.
The bank said on Friday that Anita Fung, most recently the head of global banking and markets for Asia-Pacific, will take over as chief executive in Hong Kong from September 12.
The departure of Mr McCombe after nearly 20 years underscores the challenges Mr Gulliver faces as he attempts to turn the UK bank into a more profitable and nimble organisation.
Mr McCombe will spearhead efforts to make BlackRock, the world’s biggest asset manager, a more forceful presence in Asia.
The region represents the last frontier for BlackRock, which is so big and successful in developed markets that it has found it difficult to grow.......................