BlackRock appoints Mark McCombe as chairman for Asia

The former HSBC Hong Kong CEO will replace Rohit Bhagat.

A Reuters report said, “Wharton-educated McCombe, a 24-year veteran at HSBC who was once head of its asset management unit, would be replaced at the bank by the Asian head of its investment banking unit, Anita Fung, Europe's biggest bank said in a separate statement.”

McCombe's appointment is likely to point to another push by BlackRock to raise its profile in the region, noted the report.

View the report here.