The Hong Kong-headquartered bank has a new head for retail and wealth management.

Hang Seng Bank has appointed one of its senior staff to the role of head of retail banking and wealth management, following the retirement of a predecessor.

Margaret Kwan takes up the role with effect from 1 July, replacing Nixon Chan, who is retiring from the role. Chan will remain on the board and be a non-executive director, effective from the same date, the bank said in a statement yesterday.

Simon Yuen, head of customer value management, will take up the position of head of consumer assets from Kwan.

Kwan joined Hang Seng's retail marketing department in 1995 with a background in advertising and sales promotion. She has held various senior management positions at Hang Seng and is currently leading the card, unsecured loan and mortgage business.

Last year, a report put Hang Seng at the top in a list of the world's strongest banks.