HSBC China wealth head steps down amid reshuffle

HSBC’s top wealth manager for China, Trista Sun, will step down from her role on May 1 as part of an Asian leadership reshuffle, while the bank scales back its digital wealth operations in the country. Asia head Kai Zhang will relocate from Singapore to Shanghai to serve as acting head of International Wealth and Premier Banking (IWPB) China. Sun, who led IWPB China for over three years, will take on a new role as managing director for strategic projects, reporting to global wealth head Barry O’Byrne. The reshuffle comes as HSBC cuts nearly half of its staff, about 900 jobs, at its China digital wealth business Pinnacle, reversing earlier growth plans for the unit amid broader strategic adjustments.