HSBC reshuffles insurance division after CEO’s surprise departure: internal memo

HSBC, the biggest lender in Hong Kong and Europe, has launched a major reshuffle of its insurance unit, with two senior executives appointed to replace outgoing global insurance CEO Edward Moncreiffe, according to an internal company memo seen by the South China Morning Post. Daisy Tsang, CEO of HSBC Life Hong Kong, and Kai Zhang, Asia head of international wealth and premier banking, have been named co-CEOs of insurance, effective immediately, the document stated. The pair will continue to...