HSBC Appoints New Global Co-Head Of Commercial Bank, Asia-Pacific And The Middle East

John Coverdale, HSBC Group General Manager and Managing Director of The Saudi British Bank (SABB), has been appointed the new Global Co head of Commercial Banking, based in Hong Kong, effective 6 April 2009. He will oversee the management of

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John Coverdale, HSBC Group General Manager and Managing Director of The Saudi British Bank (SABB), has been appointed the new Global Co-head of Commercial Banking, based in Hong Kong, effective 6 April 2009. He will oversee the management of the Group’s relationship with all middle market corporates and small and medium enterprises in Asia-Pacific and the Middle East.

Coverdale, who is also currently Deputy Chairman of HSBC in Saudi Arabia and a board member of SABB Takaful, will take over the role in Commercial Banking from Margaret Leung. Mrs Leung has been appointed Vice-Chairman and Chief Executive of Hang Seng Bank with effect from 6 May 2009 (subject to being elected a Director at the Hang Seng Bank Annual General Meeting that day).

Coverdale graduated in Economics from Bristol University in the UK. He joined HSBC in 1977. Before taking up his current position at SABB in 2005, he was the Executive Director and Deputy Chief Executive of HSBC Bank Malaysia from 2000 to 2005. Prior to that, he was Chief Operating Officer for HSBC in the United Arab Emirates from 1998 to 2000.

“I am delighted to welcome John on board. HSBC Commercial Banking made significant achievements in 2008 despite the very difficult environment,” says Sandy Flockhart, chief executive officer of HSBC in Asia-Pacific. “With John’s wideranging experience in the Middle East and Asia, I am sure he will continue to take this business from strength to strength.”

Coverdale has extensive experience in Asia, including three postings in Hong Kong between the late 1970s and mid-1990s, the last role being Head of Corporate Recovery. He also worked in Malaysia, Indonesia and Brunei.

D.C.

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