HSBC’s announcement last Friday that chief executive Michael Geoghegan will relocate to Hong Kong means that the top three banks in the world, by market capitalisation, are set to have chief executives based in Asia.

Of the top 10 financial institutions in the world by market capitalisation, five now have chief executives based in China or the surrounding territories, according to data from Bloomberg.

Radi Khasawneh

HSBC

Industrial and Commercial Bank of China

China Construction Bank

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Seats of power shift to Asia

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