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Hang Seng Bank says to appoint HSBC GM as CEO

Sun Mar 1, 2009 11:54pm EST

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HONG KONG, March 2 (Reuters) - Hong Kong's Hang Seng Bank (0011.HK), controlled by global lender HSBC Holdings (HSBA.L), proposed on Monday the appointment of Margaret Leung as vice chairman and chief executive, replacing Raymond Or who will retire from the board.

Leung, currently group general manager and global co-head of commercial banking for the HSBC group, is expected to take up her new post from May 6 after the bank's annual general meeting.

Hang Seng posted net profit of HK$14.09 billion ($1.8 billion) for 2008.

For results story please click [ID:nHKF079961] (Reporting by Alison Leung; Editing by Jonathan Hopfner)



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