Ex-Hang Seng CEO Passes Away

The former chief executive of Hang Seng reportedly passed away last week at the age of 57.

Louisa Cheang Wai-man passed away last week, according to a statement from Hang Seng.

The bank first disclosed that Cheang was undergoing treatment for a medical condition in July 2020 before she took a three-month leave of absence in May which was extended in August when the bank announced HSBC Hong Kong CEO Diana Cesar as her successor, effective September 1.

Cheang has served as Hang Seng’s CEO and vice-chairman since July 2017 following the retirement of Rose Lee Wai-Mun. Prior to the appointment, Cheang worked for parent group HSBC where she held senior roles like group general manager and group head of retail banking. She first joined HSBC in its credit card department in 1999.

At Hang Seng, Cheang is credited with pushing a number of key initiatives including gender diversity and digital transformation.