American Express promotes Alan Tsang to increase market share

The US bank American Express hopes to boost its share in the consumer and private banking markets in Hong Kong, with the promotion of Alan Tsang as its new senior country executive.

The bank says the former retail business manager's responsibilities will include personal financial services, private banking, financial institutions and global trading, in "one of its largest markets".

"Hong Kong has been, and will remain an important part of the bank's strategy for growth in the region," says Tsang, vowing "sustained effort to expand our business here, especially in consumer banking and private banking by providing customers with more choice of products and services".

To complement the bank's global development strategy of enhancing electronic banking services, Tsang is expected to continue to increase services delivered to customers via electronic channels.

The bank says under Tsang's leadership in his former post, the bank's financial services business has grown "tremendously".