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That's why we brought our board meeting here in Shanghai," Mr. Green said. HSBC was established in Links of London as the Hong Kong & Shanghai Banking Corp. in 1865 to finance trade between Europe, China and India. Although its headquarters are now in London, the bank has maintained a strong presence in the region throughout the return of Hong Kong to China in 1997 and the turmoil of the Asian financial crisis that followed. In February,Links of London Globe Charm moved the principal office of its group chief executive to Hong Kong from London, a symbolic gesture that highlights the importance of the U.K. bank's business in Asia for its growth, particularly in China. HSBC confirmed Friday that Stuart Gulliver, Links of London Disc charm head of investment banking, will succeed Michael Geoghegan as chief executive, and Chief Financial Officer Douglas Flint will succeed Mr. Green as group chairman. Mr. Gulliver said he has no intention of changing the income contributions of the various parts of the group, and he expects global banking markets to contribute "30% to 40% of the group's profits." Mr. Flint said major challenges and opportunities lie ahead: "One is the huge amount of reform in the regulatory framework, and Links of London Back to School Chubby Red Pencil Charm hope to have a leading role in shaping that framework, and lots of opportunities for us to build our emerging-market presence to develop what we've already got." Some are calling it London's West Side Story. While the broader index of property stocks and the shares of the U.K.'s large-cap property companies have been stuck, specialists Great Portland Estates PLC, Derwent London PLC and Shaftesbury PLC, which have a narrow focus on London's West End and City, have turned in stellar performances. Great Portland shares closed at a 52-week high of 343.30 pence ($5.44) Tuesday. Derwent also hit a 52-week high of 1,562 pence in intraday trade this week, closing Tuesday at 1,522 pence, nearly 29% off its year low of 1,183 pence. Shaftesbury alsohas been a favorite of investors and a top performer in a long-term comparison of U.K. listed property stocks. Its shares hit a 52-week high of 453.10 pence on Sept. 24 and closed Tuesday at 444.90 pence.