Hang Seng Bank's COO reportedly buys a luxury flat for HK$40 million

Hang Seng Bank's (0011) chief operating officer Vivien Chiu Wai-man reportedly bought a luxury property at the Beverly Hill project in Happy Valley for HK$40 million.

The four-bedroom flat measures 1,651 square feet, with a four-bedroom layout. Its asking price was reduced HK$3.5 million to HK$40 million last month, representing a 6 percent increase over the bank’s online valuation of HK$37.6 million.

Purchased for HK$16 million in 2004, the flat's current asking price was up HK$24 million from its original transaction price, delivering a paper gain of 1.5 times.

Vivien Chiu has many years of experience in the banking sector, and previously held positions in multiple departments at HSBC (0005) before moving to Hang Seng Bank in 2022. 

Last month, Diana Cesar, who served as HSB's chief executive at that time, reportedly purchased a unit at the long-established luxury residence Flora Garden in Tai Hang Mid-Levels for HK$26.63 million, 29 percent higher than the bank’s online valuation of HK$20.72 million.