Terence Chiu is the new head of commercial banking for Hong Kong at HSBC, with Frank Fang joining the bank as head of commercial banking, China – a role previously held by Chiu.

Both Chiu and Fang will report to regional head of commercial banking, Stuart Tait, while Fang will also report to the bank’s China president, David Liao.

Fang re-joins HSBC after a brief spell heading up Deutsche Bank’s head of corporate banking, China. He previously spent 25 years with HSBC in a variety of senior positions, and will be based in Shanghai.

Chiu has led the commercial banking team in China since 2014 and helped expand the franchise and client base in the country. He succeeds Albert Chan, who after 40 years with HSBC, is retiring. The appointment will take effect on July 1.

“Terence is the ideal choice to succeed Albert, whose energetic leadership has ensured our commercial banking operations in Hong Kong are recognised across the industry as best in class,”  Tait says.

Commenting on Fang’s appointment, Liao says: “We are delighted that Frank will drive our commercial banking business in mainland China and to see him rise from management trainee to business leader. Frank’s commitment and deep market knowledge are invaluable assets to our clients and to our continued business success.”