Com­mu­ni­ca­tions Bank to let HSBC name VC

The Pak Banker - - FRONT PAGE -

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.

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