Retiring banker won't rule out ministerial post

Margaret Leung Ko May-yee, who is ending a decades-long career in banking, plans to keep her options open - including the possibility of taking up a ministerial role in government.
Set to retire in May, the vice chairwoman and chief executive of Hang Seng Bank (0011) spoke yesterday of her desire for greater involvement in public service despite holding 13 public posts.

Asked whether she would join the government - say, as financial secretary - Leung replied: "Being a government official? I am open to all options. But I need to take some rest first."

She added she hopes "to participate more in voluntary activities."

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She kept mum when asked if she would support New People's Party chairwoman and lawmaker Regina Ip Lau Suk-yee in the chief executive race.

But foremost in Leung's mind are family matters and taking a break. She wants to take a break in Zhangjiajie, a scenic city in Hunan province next month, before she leaves the HSBC Group after a 34-year banking career.

"My daughter is very happy about my retirement, because I can spend more time at dinner with her," the 59-year- old said.

She will be succeeded at Hang Seng Bank by Rose Lee Wai-mun, currently China and Hong Kong adviser to HSBC, and Leung's classmate in middle school.

She also hopes Hang Seng Bank will be able to name a chief executive from internal ranks one day.

Meanwhile, the lender is likely to recruit some of those being laid off from parent HSBC Holdings (0005), Leung added. "We will also hire management trainees in Hong Kong, and carry on recruitment in the mainland."

Hang Seng Bank aims to open 20 more branches in the mainland by 2014, adding to the current 39 outlets.

Leung said the United States is likely to launch a third round of quantitative easing in the third quarter.

Hang Seng Bank shares hit a five- month high of HK$106.70 yesterday, up 5.1 percent.