Iconic Taipan House eludes executives succeeding Peter Wong at HSBC
- Colonial era home on The Peak has since 1983 been the home of bank’s senior executives, who are referred to as taipans or ‘big boss’ in Mandarin and Cantonese
- Peter Wong, who has become the bank’s non-executive chairman with immediate effect, will continue to occupy the property
Quinn, the bank’s group CEO, said Wong would continue to occupy the property, a colonial era home located on Middle Gap Road that overlooks Aberdeen and the south side of Hong Kong Island.
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Taipan House was bought by HSBC in 1983 as a home for its senior executives and chairmen, who are referred to as taipans, or “big boss” in Mandarin and Cantonese. The property has been home to former chairmen such as William Purves, John Gray, John Strickland, David Eldon and Vincent Cheng. It was passed out to Wong in 2011. “Peter will stay in the house,” Quinn said on Monday.
The 156-year-old bank was founded in Hong Kong and Shanghai, but shifted its headquarters to London in 1993 following the acquisition of Midland Bank. Its recent moves, however, show it is shifting its focus back to Asia.
“HSBC has significant growth plans in Hong Kong, China, Singapore, Southeast Asia and India. It makes sense to have two people to co-head and to drive our future growth,” Quinn said. Liao knew Hong Kong and China well, while Rosha understood India and Southeast Asia, he added.
