Communications Bank to let HSBC name VC

LONDON: Bank of Communications Co. plans to let HSBC Holdings Plc name a vice chairman to its board as the Chinese bank restructures its ownership to give private capital a bigger role, according to people with knowledge of the matter. HSBC, which owned 18.7 percent of Bocom as of March, hasn't finalized the candidate for the appointment yet, the people said, asking not to be identified because they aren't authorized to speak publicly. The vice chairman picked by HSBC will probably be installed by the end of September, one of the people said.