Hang Seng Bank, a unit of UK lender HSBC, has announced that Margaret Leung will retire as vice-chairman and chief executive of the bank after its annual general meeting on May 11. Leung assumed her present position in May 2009, and will retire after 34 years of service at HSBC. Leung will be replaced by Rose Lee, HSBC advisor for China and Hong Kong.

David Thomas

HSBC

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Hang Seng chief executive retires

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