HSBC Subsidiary Hang Seng Bank to Cut 1% of Core Staff in Restructuring, Hang Seng Bank Has 8,300 Employees in 2024, Hang Seng Bank Founded in 1933 as Hang Seng Ngan Ho (Money Changing Shop) by Lam Bing Yim, Ho Sin Hang, Leung Chik Wai, Ho Tim & Ho Lian Shen, Started Commercial Banking in 1952, Bank Run in 1965 Resulted in HSBC Acquiring 51% Majority Shareholding in Hang Seng Bank, HSBC is Largest Shareholder with 62.14% Shareholding, IPO on Hong Kong Exchange (HKEX) in 1972
16th May 2025 | Hong Kong
HSBC Group subsidiary Hang Seng Bank has announced to cut 1% of core staff in restructuring. At the end of 2024, Hang Seng Bank has around 8,300 employees. Hang Seng Bank was founded in 1933 as Hang Seng Ngan Ho (Money Changing Shop) by Lam Bing Yim, Ho Sin Hang, Leung Chik Wai, Ho Tim & Ho Lian Shen, and started commercial banking in 1952. A bank run in 1965 resulted in HSBC acquiring 51% majority shareholding in Hang Seng Bank. HSBC is currently the largest shareholder with 62.14% shareholding. Hang Seng Bank IPO on Hong Kong Exchange (HKEX) in 1972. Profile – Founded in 1933, Hang Seng has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving close to 4 million customers. Combining its award-winning mobile app and strong digital capabilities with a vast network of more than 250 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere. Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in major cities in mainland China to serve a growing base of mainland customers locally and those with cross-boundary banking needs. As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community. Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations. In 2025 April, HSBC subsidiary Hang Seng Bank appointed Gilbert Lee Man-lung as Hang Seng Bank China Vice-Chairman, succeeding Vice-Chairman & CEO Ryan Song who is appointed to a new role at HSBC (2025 July), and 28-year veteran & Deputy CEO William Wu appointed as CEO & Head of Wholesale for Hang Seng Bank China. Gilbert Lee Man-lung joined Hang Seng Bank in 2014, and held leadership roles including as Head of Strategy & Corporate Development, Chief of Staff & Chairman of Hang Seng Indexes Company. Gilbert Lee Man-lung has 26 years of financial industry experience including at WTW, Citi, Bank of America, Wells Fargo and Booz & Co.Gilbert Lee Man-lung is the eldest son of Hong Kong Chief Executive John Lee. William Wu joined Hang Seng Bank as a Management Trainee in 1997, and held leadership roles including as Deputy Chief Executive, Country Head of Client Coverage for Commercial Banking & Head of China Business.
“ HSBC Subsidiary Hang Seng Bank to Cut 1% of Core Staff in Restructuring, Hang Seng Bank Has 8,300 Employees in 2024, Hang Seng Bank Founded in 1933 as Hang Seng Ngan Ho (Money Changing Shop) by Lam Bing Yim, Ho Sin Hang, Leung Chik Wai, Ho Tim & Ho Lian Shen, Started Commercial Banking in 1952, Bank Run in 1965 Resulted in HSBC Acquiring 51% Majority Shareholding in Hang Seng Bank, HSBC is Largest Shareholder with 62.14% Shareholding, IPO on Hong Kong Exchange (HKEX) in 1972 “
HSBC Subsidiary Hang Seng Bank Appoints Gilbert Lee Man-lung as Hang Seng Bank China Vice-Chairman Succeeding Vice-Chairman & CEO Ryan Song Who is Appointed to a New Role at HSBC (2025 July), 28-Year Veteran & Deputy CEO William Wu Appointed as CEO & Head of Wholesale for Hang Seng Bank China, Gilbert Lee Man-lung Joined Hang Seng Bank in 2014 & Held Leadership Roles Including as Head of Strategy & Corporate Development, Chief of Staff & Chairman of Hang Seng Indexes Company, Gilbert Lee Man-lung Has 26 Years of Financial Industry Experience Including at WTW, Citi, Bank of America, Wells Fargo and Booz & Co, Gilbert Lee Man-lung is Eldest Son of Hong Kong Chief Executive John Lee, William Wu Joined Hang Seng Bank as Management Trainee in 1997 & Held Leadership Roles Including as Deputy Chief Executive, Country Head of Client Coverage for Commercial Banking & Head of China Business
18th April 2025 – HSBC subsidiary Hang Seng Bank has appointed Gilbert Lee Man-lung as Hang Seng Bank China Vice-Chairman, succeeding Vice-Chairman & CEO Ryan Song who is appointed to a new role at HSBC (2025 July), and 28-year veteran & Deputy CEO William Wu appointed as CEO & Head of Wholesale for Hang Seng Bank China. Gilbert Lee Man-lung joined Hang Seng Bank in 2014, and held leadership roles including as Head of Strategy & Corporate Development, Chief of Staff & Chairman of Hang Seng Indexes Company. Gilbert Lee Man-lung has 26 years of financial industry experience including at WTW, Citi, Bank of America, Wells Fargo and Booz & Co.Gilbert Lee Man-lung is the eldest son of Hong Kong Chief Executive John Lee. William Wu joined Hang Seng Bank as a Management Trainee in 1997, and held leadership roles including as Deputy Chief Executive, Country Head of Client Coverage for Commercial Banking & Head of China Business. Hang Seng Bank – Founded in 1933, Hang Seng Bank has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.5 million customers. Combining its award-winning mobile app and strong digital capabilities with a vast network of over 260 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere. Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in Mainland China to serve a growing base of Mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei. As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance and financial literacy, addressing climate change and caring for the community. Hang Seng is a principal member of the HSBC Group, one of the world’s largest banking and financial services organisations.
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