Hang Seng Bank appoints Fred Hu non-executive director

The former Goldman Sachs Managing Director will be paid a director's fee of HK$340,000 a year.

Chairman of Primavera Capital, Dr Hu does not currently hold any other position with the Bank or its subsidiaries. He has no relationship with any Directors, senior management or substantial or controlling shareholders of the Bank and does not have any interests in the shares of the Bank.

Hang Seng Bank said the appointment will cease after the conclusion of the Bank’s 2012 Annual General Meeting (AGM). Upon that time and subject to his election by the shareholders, the term of appointment of Dr Hu shall then be for three years, which will expire at the conclusion of the Bank’s AGM in 2015.