Vincent Cheng Hoi-Chuen
Vincent Cheng Hoi-Chuen | |
|---|---|
| Born | 16 July 1948 Hong Kong |
| Died | 28 August 2022 (aged 74) |
| Occupation(s) | Banker, executive director |
| Years active | 1978–2010 |
| Known for | Executive director at HSBC Holdings; Chairman of The Hongkong and Shanghai Banking Corporation (2005–2010) |
Vincent Cheng Hoi-Chuen GBS OBE JP (, born 16 July 1948, died 28 August 2022) was a distinguished banker from Hong Kong who held the position of executive director at HSBC Holdings plc. From 2005 until 2010, he led The Hongkong and Shanghai Banking Corporation Limited, the Asia-Pacific division of HSBC, as its chairman.
Early years and education
Raised in a financially disadvantaged household in Hong Kong, Cheng overcame the challenges posed by childhood polio. He attained a Bachelor of Social Science degree specializing in Economics from the Chinese University of Hong Kong and further pursued a Master of Philosophy in Economics at the University of Auckland.
Career
Cheng began his tenure at The Hongkong and Shanghai Banking Corporation in 1978, starting within Group Finance before transferring to Group Planning in 1982. By 1986, he had advanced to the role of Chief Economist. Between 1989 and 1991, he was assigned to Hong Kong's Central Policy Unit, providing advisory services to the Governor. His promotion to general manager came in June 1995, followed by his historic appointment as the bank’s first ethnic Chinese Executive Director later that same year.
In 1998, Cheng took on the roles of vice-chairman and Chief Executive Officer at Hang Seng Bank, an HSBC majority-owned entity. On 25 May 2005, he succeeded David Eldon as Chairman of The Hongkong and Shanghai Banking Corporation. His responsibilities expanded as he served as managing director within HSBC Group and as a Director of HSBC Bank Australia Limited. In April 2007, he assumed chairmanship of HSBC Bank (China) Company Limited. February 2008 marked his appointment as HSBC Holdings’ first ethnic Chinese Executive Director.
Beginning January 2008, Cheng contributed to the National Committee of the 11th Chinese People's Political Consultative Conference (CPPCC), also acting as a senior advisor to its Beijing Municipal Committee.
His governmental advisory roles encompassed membership in the Executive Council from 1995 to 1997, serving as a Hong Kong Affairs Adviser to China between 1994 and 1997, and holding office in the Legislative Council of Hong Kong from 1991 through 1995. Public service commitments included chairing the Standing Committee on Directorate Salaries and Conditions of Service for the Hong Kong SAR Government and participating on the Exchange Fund Advisory Committee under the Hong Kong Monetary Authority. Additionally, he was Honorary President of the Hong Kong Society for Rehabilitation.
Cheng passed away at age 74 on 28 August 2022, reportedly after a battle with nasopharyngeal cancer. His memorial service took place on 21 September 2022 at St. John's Cathedral, attended by notable figures from government and business sectors.
His honors included appointment as Justice of the Peace, receiving the Officer of the Order of the British Empire (OBE) in 1994, and being awarded the Gold Bauhinia Star (GBS) in 2005.
Death
On the evening of 28 August 2022, Cheng died at the age of 74.