The Hong Kong/London-listed banking group has named co-CEOs focusing on the Pearl River Delta market region.

HSBC has named Neo Wang and Rannie Lee as Guangdong co-chief executives, as it drives expansion in the Pearl River Delta region of the Greater Bay Area.

Wang is head of Guangdong commercial banking and Lee is head of Pearl River Delta retail banking and wealth management. Both will report to David Liao, president and CEO of HSBC China. They will also continue to lead HSBC’s commercial and retail banking, and wealth management businesses in the region.

The moves comes after HSBC, in its 2018 Strategy Update, reiterated its growth ambitions for the region, identifying the Pearl River Delta as one of eight markets globally that gives it the largest growth opportunity.

The London/Hong Kong-listed bank has set a target to raise about $500 million of revenue in the Delta by 2020 and more than $1 billion over the medium term, to provide more than $10 billion of loans and advances to customers by 2020, and more than $20 billion in the medium term. The bank has more than doubled its headcount in the PRD since outlining its strategic expansion plans in 2015. 

HSBC appointed Lee to the new role of head of PRD retail banking and wealth management in September this year; she joined the bank in 1997 and has more than 20 years of experience in retail banking.

Wang joined HSBC in 2004 and has over 15 years of corporate banking experience in mainland China. He has been managing director and head of Guangdong Commercial Banking for the past three years.