The Bank of East Asia (China) Limited (“BEA China”) announces that Mr. Montgomery Ho Shun-wah (“Mr. Ho”) has been appointed as Executive Director & Chief Executive by the Board of Directors of BEA China. This appointment has been approved by the China Banking and Insurance Regulatory Commission.

Mr. Ho, who was born in Hong Kong, holds a Master of Business Administration degree from the Chinese University of Hong Kong. As a veteran banker, he has over 30 years of experience in the banking industry and a deep understanding of the development and management of banks in Chinese mainland. Having worked in Chinese mainland for nearly 10 years, Mr. Ho has unique insight into the financial market and understands the needs of local customers.

BEA China strives to excel in its localised development strategy and has grown steadily to become one of the leading foreign banks on the Mainland. Under Mr. Ho’s leadership, BEA China will proactively introduce different business transformation initiatives, including the digitalisation of retail banking, which are expected to expand customer base and increase the share of retail banking in its operating income and loan portfolio. In addition, by promoting its transaction banking services, investment banking services, cross-border financial solutions and sales of treasury products for corporate customers, BEA China aims to optimise its asset portfolio and drive growth in non-interest income. Meanwhile, BEA China will keep abreast of industry developments in the Mainland. By leveraging the BEA Group’s extensive network in the Mainland and overseas, BEA China seeks to assist domestic companies to invest abroad. Concurrently, it will support foreign companies that are seeking to enter the Mainland market, thereby strengthening the link between the Mainland and Hong Kong. Furthermore, it will continue to position itself as an active participant in the Guangdong-Hong Kong-Macao Greater Bay Area Initiative and other national initiatives.

BEA, one of Hong Kong’s earliest Chinese-funded banks, has built up a solid foundation over a century of development and become a leading Hong Kong-based financial services group. Since 1920, BEA has maintained a presence on the Mainland, opening its first branch, and has remained an active participant in China’s economic advancement, with the establishment of BEA China, one of the first locally-incorporated foreign banks on the Mainland, as an important milestone.  2020 is a special milestone for BEA, marking the 100th anniversary of its Mainland business. In the coming century, BEA China will continue to drive sustainable growth of its business and provide customers with a comprehensive suite of quality services.