Hang Seng Bank's chair Lee calls it a day

Irene Lee Yun-lien will step down as chairman of Hang Seng Bank (0011) in May.

She will be succeeded by Edward Cheng Wai-sun after the Hong Kong lender's annual general meeting that month.

Lee will also step down from her roles as an independent non-executive director, chairman of the nomination committee, and a member of the audit, risk and remuneration committees.

Cheng, who is the deputy chairman and chief executive of Wing Tai Properties (0369), will be made an independent non-executive director of the bank in April.

He will also become chairman of the nomination committee and a member of the audit, risk and remuneration committees.

Lee, who joined the board in 2014 and became chairman in 2021, is currently the chairman of Hysan Development (0014), Hong Kong's largest commercial landlord.

STAFF REPORTER