HSBC announced yesterday that it's establishing a GBA Office to spearhead its strategic development in the Guangdong-Hong Kong-Macao Greater Bay Area, and has appointed Daniel Chan as head of the Greater Bay Area, effective March 2021.
Setting up in Guangdong, the new unit will oversee all strategy-related activities to capture opportunities brought about by the area’s economic growth and policy measures and will act as the focal point of contact for the bank’s participation in GBA initiatives.
As head of GBA, Chan's responsibilities include deepening collaboration with internal and external stakeholders and driving the business forward at pace. He will report jointly to Diana Cesar, chief executive of HSBC Hong Kong and Mark Wang, president and chief executive of HSBC China.
Chan is currently head of business banking and commercial banking at HSBC Hong Kong. He has more than 30 years of experience, and over the past 15 years has held senior commercial banking positions in Hong Kong and Singapore. Under his leadership, HSBC Business Banking has achieved multiple firsts in the market including award-winning digital and innovation solutions to enhance the customer experience and its brand profile.
Commenting on Chan's appointment, Diana Cesar said, “GBA is a vibrant city cluster, which is experiencing a significant increase in demand for internationally competitive banking services. It's an area of strategic priority for HSBC, and we are investing in our digital infrastructure, cross-boundary product capabilities and talent pools. With Daniel’s extensive banking experience, we hope to better connect people and businesses to nearby cities and markets abroad so that we build a more prosperous GBA.”
HSBC is the largest foreign bank in mainland China with a presence in all 21 prefecture level cities in Guangdong.
Talent development is an important element of HSBC’s GBA strategy. In January, the bank announced a plan to hire 100 Hong Kong graduates interested in attaining work experience in the GBA under Hong Kong’s Greater Bay Area Youth Employment Scheme. In addition, HSBC has introduced the Greater Bay Area (Hong Kong) Scholarship, which will support 100 Hong Kong undergraduate students with career aspiration of working in the GBA in the next three academic years.