HSBC picks Flockhart to head bank's Asia unit

LONDON: HSBC, the world's third-biggest bank, announced on Wednesday that the head of its Latin American operations, Sandy Flockhart, has been appointed new boss of the British group's Asia unit.   

Flockhart, 55, replaces Michael Smith as Asia chief executive from July, a statement said.   

"We are delighted to make Sandy chief executive for our Asian operations," HSBC chief executive Michael Geoghegan said.   

"Emerging markets will continue to drive world economic growth and we see Asia as a key region with tremendous potential.

"It is home to some of the world's most dynamic economies and HSBC's unique emerging markets franchise, in Asia and around the world, presents significant growth opportunities for us," Geoghegan added.   

Flockhart described his appointment as a "privilege."   

"We have a thriving business in Hong Kong and a wonderful growth story across Asia Pacific," he added.   

The Hongkong and Shanghai Banking Corporation is headquartered in London.