HSBC Holdings Plc is proposing the return to the original hometown of the bank of some global leaders, reinforcing the position of Asia as its center of gravity.
A senior executive group is expected to move from HSBC’s Canary Wharf headquarters to Hong Kong in the coming months, say individuals familiar with the plans, as Europe’s largest bank pares its global ambitions.
On Tuesday, when he announces 2020 results, Chief Executive Officer Noel Quinn will start selling what is known internally as the “pivot to Asia.” Moving the trio, Nuno Matos, chief executive of wealth and personal banking; Greg Guyett, co-head of global banking and markets, and Barry O’Byrne, chief executive of global commercial banking, would mean that Hong Kong would run out of companies accounting for 95 percent of net income in 2019.
