Chief economists at HK major banks Hang Seng and BEA exit

The chief economists of Hang Seng Bank and Bank of East Asia have resigned, citing personal reasons, according to statements from the lenders. Hang Seng’s Thomas Shik, who joined the bank over 18 years ago and became chief economist in 2017, will leave in mid-August and plans to take a break, with no next role announced. Bank of East Asia’s Ricky Choi, who assumed his post in June 2022 after a seven-year stint at BOC Hong Kong, also tendered his resignation, ending a nearly 25-year career in economic research. Both banks confirmed the departures and have initiated open recruitment for replacements. The exits come amid broader macroeconomic uncertainty but are reportedly unrelated to recent operational adjustments at either lender.