HSBC Holdings has appointed Jack Yang as chief financial officer for Asia and the Middle East, effective April 13 subject to regulatory approval, the latest leadership shift as Chief Executive Georges Elhedery overhauls the lender. Yang, who joined the bank in 2009, succeeds Ming Lau, who left for a role at Manulife Financial Corp.
Since Elhedery assumed the CEO role in September 2024, after serving as Group CFO from early 2023, he has moved to flatten the bank's hierarchy and reduce costs. Under his tenure, the bank has cut thousands of jobs and sold, merged or closed some businesses.
RISING THROUGH THE RANKS
He has been with the bank since 2009, serving as regional treasurer and in the bank's international wealth and premier banking division.
Manulife named Lau in November 2025 as its chief financial officer for Asia, starting in May 2026.