Top HSBC executive in Sri Lanka

Guy Harvey-samuel, Group General Manager and Head of International for HSBC Asia Pacific arrived in the country on an official visit this week during which he met senior Government officials, key customers and senior management of HSBC.

His visit came just as HSBC across many countries sought to allay fears, based on news reports, that the bank was exiting from some Asian markets

The Wall Street Journal in a March 13th datelined story headlined “HSBC not exiting from Asian markets’ quoted a spokesman from HSBC Holdings as saying that the HSBC “wasn't exiting any markets in Asia but would continue to review operations in several Asian countries as part of a wider drive to slim its global operations and maximize profitability”.

The spokesman, the paper said, declined to comment on a Uk-based FT article that stated the bank was weighing the sale or closure of retail operations in seven countries including New Zealand and Pakistan.

In Colombo, the local office – in response to the FT report -said, “We are not exiting any markets in Asia.”

HSBC’S Colombo office in announcing Mr Harvey-samuel’s visit quoted him as saying, “Our strategy in the Asian region is to have strong, balanced and diversified geographies and businesses and we will continue to invest and grow in Asia as evidenced by our strong financial performance for 2011.”

He also said, “…our plans to completely renovate our Fort Head Office building in 2012, further reiterates our commitment to continued investment and growth in Sri Lanka for many more years and we are pleased to offer more convenience and services to our banking clientele here.”