HSBC Holdings PLC's head of its Greater China operation Helen Wong has resigned to pursue an external opportunity, The South China Morning Post reported Aug. 9, citing an internal memo.
A spokesperson of the bank told the publication that Wong's departure "has no connection with Huawei, no connection with former group chief executive John Flint leaving the bank and no connection with the job cut plan mentioned on Aug. 5."
HSBC is reportedly on a list of foreign companies deemed "unreliable" by the Chinese government. The lender allegedly gave information to U.S. prosecutors that helped them to build a case against Meng Wanzhou, finance director of Huawei Technologies Co. Ltd., who faces charges of wire fraud and breaking U.S. sanctions against Iran.
The lender announced Aug. 5 the unexpected departure of Group CEO John Flint amid a "challenging global environment," while reporting a year-over-year rise in first-half attributable net profit.