HSBC Replaces Top Executive in Asia

Peter Wong in Singapore in 2019.


Ross Kinnaird/Getty Images


HSBC Holdings

HSBC -0.13%

PLC on Monday said its Asia-Pacific Chief Executive

Peter Wong

is retiring and it has appointed two veteran bankers to take over the running of its business in the region.

The London-headquartered banking giant named David Liao and Surendra Rosha as Asia-Pacific co-CEOs with immediate effect, giving them oversight of a business that is


HSBC -0.13%

biggest profit generator.

Mr. Wong has moved to a nonexecutive role. He will serve as chairman of HSBC Asia-Pacific, replacing

Laura Cha,

who is also departing the board of HSBC Holdings. Ms. Cha chairs the board of

Hong Kong Exchanges & Clearing Ltd.

Write to Elaine Yu at

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