Hang Seng Bank’s Top Job taken by HSBC Hong Kong’s CEO Diana Cesar

Diana Cesar will succeed Louisa Cheang on Sept 1, according to an emailed statement from the bank. HSBC has started a process to find a new CEO for its Hong Kong business.

Luanne Lim, the chief operating officer at HSBC in the HKSAR, will assume the role of interim chief executive for the operations in the city until a successor is appointed.

Louisa Cheang, the COO of Hang Seng, will extend her leave of absence while she receives medical treatment and return as an HSBC executive “in due course,” according to the statement.

HSBC, Europe’s largest lender, is steering billions of dollars in capital toward Asia to lift its profitability while shrinking or exiting operations in other parts of the world. Key to its growth strategy in Chinese mainland is capitalizing on the rising affluence in the world’s second-largest economy.

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