HSBC signalled on Friday* its determination to expand in China and across Asia by moving Michael Geoghegan, its chief executive, from London to be based full-time in Hong Kong.
The move – which Stephen Green, executive chairman, told the Financial Times was “symbolic and practical” – is also aimed at cementing HSBC's position as the biggest foreign bank in the fast-growing Chinese market.
“Asia and China are the centre of gravity of the world and of our business,” Mr Green said.
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