HONG KONG -- Hongkong and Shanghai Banking Corp. has split the position of chief executive from that of chairman.
The bank, a division of HSBC Holdings of London, named John Gray chief executive officer. Mr. Gray had been deputy chairman of the bank and its holding company, and will retain those jobs.
According to a spokesman, chairman William Purves said in June that the Hongkong banking group was too large for one man to be responsible for both the holding company and the bank.
Mr. Purves - who had been CEO of the bank - remains chairman and chief executives of the holding company and chairman of the bank, which had $148 billion in assets at yearend 1990.