Rachel Wei has been appointed head of global trade and receivables finance (GTRF) for Hong Kong and Macau at HSBC.
She replaces Terence Chiu, who has been made head of commercial banking for China. Wei was most recently HSBC’s managing director for middle market enterprises in Hong Kong, a position she occupied for just over two years.
She reports to James Emmett, global head of GTRF and Albert Chan, head of commercial banking, Hong Kong.
Her move is one of a number of significant changes to the bank’s Asian commercial banking operations. Sanjay Prakash has been named head of commercial banking, international countries. His geographic remit extends to Brunei, Macau, Mauritius, New Zealand, Philippines, Sri Lanka, Taiwan, Thailand and Vietnam.
Quang Buu Huynh has been appointed head of commercial banking, Indonesia. He replaces Amanda Murphy, who becomes the head of HSBC’s UK business banking division.
Lim Kok Guan is the new head of commercial banking, Brunei while Krisda Phatcharoen has been named head of commercial banking, Thailand, having rejoined the bank from ANZ, where he has spent the past four years.
Noel Quinn, who heads up HSBC’s Asia Pacific commercial banking group, says: “By 2050, the emerging world will have increased five-fold and will be larger than the developed world. We want to ensure that we have the right structure and people in place to support international businesses and connect them to opportunities as they grow. Asian companies are going global faster and earlier than western counterparts because they have the resources, technology advancements and have growing home economies. These companies need trusted advisors to help them expand and we have the right people in the right team to support them.”