The Bank of East Asia, Limited Announces Resignation of Non-Executive Director and Member of the Remuneration Committee
August 23, 2019 at 04:43 am
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The Bank of East Asia, Limited announced that Dr. Peter LEE Ka-kit has tendered his resignation as a Non-executive Director ("NED") of the Bank with effect from 23rd August, 2019. Accordingly, he also ceases as a Member of the Remuneration Committee (the "RC") of the Bank on the same date. Dr. Lee has informed the Bank that as he was recently appointed as Chairman and Managing Director of Henderson Land Group and Chairman of China Gas Group. He wishes to focus on and devote more time to such new roles and therefore has decided to step down as an NED of the Bank and a Member of the RC. Dr. Lee has confirmed that he has no disagreement with the Board of Directors of the Bank (the "Board") and that he is not aware of any matter relating to his resignation that needs to be brought to the attention of the shareholders of the Bank. Dr. Lee was appointed a Director of the Bank in 2013 and has served the Bank for more than 6 years. The Board would like to extend its gratitude to Dr. Lee for his wise counsel and invaluable contribution to the Board and the Bank during his tenure of
service on the Board and wish him every happiness, good health and success for the future.
Bank of East Asia Ltd is a company mainly engaged in the banking business. The Company operates its business through nine segments. The Mainland China Operations segment mainly include the back office unit for Mainland China operations in Hong Kong, all subsidiaries and associates operating in Mainland China, except those subsidiaries carrying out data processing and other back office operations for Hong Kong operations in Mainland China. The Corporate Banking segment provides corporate lending and loan syndication, asset-based lending, commercial lending, securities lending and trade financing activities with correspondent banks and corporates. The Personal Banking segment is engaged in the branch operations, personal internet banking, consumer finance, property loans and credit card business to individual customers. The Overseas Operations segment provides back office unit for overseas banking operations in Hong Kong, Macau Branch, Taiwan Branch and all branches, subsidiaries and ass