The current CEO will retire at the start of July this year. The bank has been hunting for a replacement since 2017.

The chief executive of Bank of East Asia, which provides services including wealth management, is stepping down from the post.

Hong Kong-based BEA said yesterday that Dr David K P Li will retire as CEO and be re-designated as executive chairman with effect from 1 July. The CEO slot will be held by two people: Adrian David Li Man-kiu and Brian David Li Man-bun. Both men serve as executive director and deputy CEO.

Late in 2017 BEA started a search for a successor to Dr Li and chose the new executive line-up after a “rigorous global search process” from internal and external candidates, it said.

Adrian Li first joined the bank in 2000, rising to a number of posts including that of deputy CEO of the Hong Kong business. He was appointed to his latest role in 2014. Brian Li joined the bank in 2002. His roles included being general manager at the wealth management arm of the firm from July 2004 to March 2009. In April 2009, he was appointed deputy CEO, and was primarily responsible for the firm's China and international businesses, as well as assisting the CEO in the overall management and control of the group.