Hang Seng Bank Limited announced that Ms. Diana Cesar, currently Group General Manager of HSBC Holdings plc and Chief Executive Officer, Hong Kong of The Hongkong and Shanghai Banking Corporation Limited, will be appointed as Chief Executive of the Bank, with effect from 1 September 2021. She will concurrently take up the positions of Chairman of the Executive Committee and a member of the Nomination Committee in the place of Ms. Cheang. According to the Bank's Articles of Association, Ms. Cesar's appointment will expire at the Bank's 2022 Annual General Meeting ("AGM") and subject to her election by the shareholders at the 2022 AGM, her term of appointment as a Director will be three years which will expire at the conclusion of the Bank's AGM in 2025. Cessation of Ms. Margaret Kwan as Acting Chief Executive: Upon the appointment of Ms. Cesar as Chief Executive of the Bank, Ms. Margaret Kwan will cease to be the Acting Chief Executive and will remain as Executive Director and Head of Wealth and Personal Banking of the Bank.