Asia Money News

Asia Money News

There have been various changes recently at senior management level in banks right across the board in Asia.

HSBC have shuffled around a range of personnel as part of their latest round of modernization strategies. The commercial banking business in Asia Pacific has seen more than it's fair share of these appointments. It was announced that the new head of commercial banking for international countries would be Sanjay Prakash. This extensive sphere of influence will include Brunei, the Maldives, Mauritius, New Zealand, the Philippines, Sri Lanka, Taiwan, Thailand, Macau and Vietnam. He has already accumulated an extensive CV, and will be moving to his new role from his previous position as regional head of business management for commercial banking in Asia Pacific.

Elsewhere, Terence Chiu is taking over from Montgomery Ho as the commercial banking head in China. He will be making the short journey from Hong Kong to the mainland China team. Similarly, Chiu has an impressive range of experience in the industry. He had been in charge of the global trade and receivables finance business in Hong Kong and Macau. His previous role is being replaced by Rachel Wei, formerly managing director for middle market enterprises for commercial banking in Hong Kong.

The task of heading up Indonesia's commercial banking sector has fallen to Quang Buu Huynh, who is succeeding Amanda Murphy. Amanda will be heading to the UK to take charge of the business banking division. Previously Quang was regional head of international global trade and receivables finance.

In other news, Ju Zhao, who was joint head of China at UBS – the Switzerland-based global financial services company – has asked to take a sabbatical, in order to assume the position of visiting fellow at Harvard. This will take effect from December and last for 12 months until the end of 2014.

During his absence, Wei Cai will stay in Asia as the joint head of China. Providing it is feasible amongst his Harvard commitments, Ju will still advise in the coverage of a selection of key UBS clients.

Last September, Honggui Li, who had been the joint head of the UBS investment banking division, shifted to the Hong Kong office to join the China managing director group.