HSBC names an industry veteran to lead its China arm as deputy CEO.

HSBC Bank has bolstered its China business with a senior management hire.

Montgomery Ho steps in as deputy chief executive and executive director with immediate effect. Ho joined the company in 1983 and has held several key management positions in commercial banking and other business divisions. He was named head of commercial banking of HSBC China in October 2010. The Hong Kong/London-listed firm's previous deputy CEO in China was Chris Davies; he is now is CEO International of HSBC Bank.

Ho brings over 30 years of banking experience, especially in serving corporate clients in the Greater China region. He played a key role in the establishment of the "China Desks," which provide services to China outbound clients and enhance service capabilities for foreign companies in the country. 

HSBC China's network currently comprises over 160 outlets across more than 50 major cities but continues to grow. Its head office is based in Pudong, Shanghai. 

In mid-2013, the bank announced plans to target more retail investors by launching domestic mutual funds to 22 cities in the Mainland. Before the year ended, it obtained a licence to become a futures margin depository bank from the China Financial Futures Exchange, making it the first foreign bank to offer such service to qualified foreign institutional investors.