Pepper Group co-chief executive Mike Culhane is relocating to Hong Kong.  The company said that with 50 per cent of its revenue and earnings now generated outside Australia, an overseas location was more suitable for negotiating global transactions and developing new business partnerships. Pepper owns a savings bank in South Korea and has an investment in Prime Credit in Hong Kong and China. Heritage Bank has appointed Richard Claydon as its new manager of banking operations. Claydon has been with Heritage Bank since 2004, working in a number of IT roles and as payment systems manager. He replaces David Janetzki, who was recently elected to the Queensland Parliament.