On the move

HSBC names Diana Cesar as Hong Kong CEO

Diana Cesar has been named as HSBC Holdings Plc's chief executive for Hong Kong after 15 years with the bank. She was formerly head of retail banking and wealth management in the special administrative region. Cesar will report to Helen Wong, the bank's chief executive for greater China, HSBC said in an e-mailed statement last month. HSBC is shifting investment to Asia, the bank's best-performing region, while cutting unprofitable divisions. In June, Europe's largest bank unveiled a three-year plan to reduce annual costs by up to $5 billion. Cesar started her new job on Oct 1, but she will continue to oversee retail banking and wealth management until a successor is appointed.