Hong Kong's Hang Seng Bank has appointed Margaret Kwan as head of retail banking and wealth management.
Nixon Chan, who Kwan is replacing as he retires, is "credited with the significant growth and the strong standing of the retail banking and wealth management business," said vice-chairman and CEO Rose Lee in a statement.
Chan will remain on the board and will be redesignated as a non-executive director starting in July, with a director’s fee of HK$450,000 a year that could be subject to change.
Kwan has a strong background in advertising and sales promotion. She joined Hang Seng’s retail marketing deparment in 1995 and held a number of roles at the bank. She also served as the head of corporate and commercial banking from 2009 to 2011.
The bank said she has been a member of the retail banking and wealth management team and has helped to devise business development straegy.
Kwan’s current role, head of cosumer assets, will be filled by Simon Yuen, who is now the head of customer value management.