News
HSBC announces new group CEO
HSBC Holdings plc has appointed Georges Elhedery as Group Chief Executive, effective 2 September 2024.
HSBC Group Chairman Sir Mark Tucker said: “I am delighted to confirm Georges as the next Chief Executive of HSBC Group.
“He is an exceptional leader and banker who cares passionately about the bank, our clients and our people. He has a track record of leading through change, driving growth, delivering simplification, containing costs and bringing a strong focus on execution.
“During his career, he has worked in Asia, the Middle East and Europe. Since joining the board as Group CFO in early 2023 and throughout the selection process, he has demonstrated his strategic vision and insight, and deep international perspectives.
“The board concluded that Georges was the exceptional candidate and we look forward to working together as he leads HSBC into the next phase of development and growth.”
Mr. Elhedery joined HSBC in 2005 and was appointed to the board and as group CFO in January 2023. Previously, he served as co-CEO of Global Banking and Markets, where he also led the Securities and Markets Services division. He led the group’s Middle East, North Africa and Turkey region as CEO from July 2016 to February 2019.
He said: “I am deeply honored by the trust placed in me to lead this great institution into the future. Working alongside our talented team, I look forward to delivering exceptional value to our clients and investors, driving strong performance on a sustainable growth trajectory.”
Mr. Elhedery will continue in his role as Group CFO during the transition period, and an announcement regarding his successor will be made in due course.
HSBC has confirmed that Noel Quinn will step down as Group Chief Executive and Executive Director of the Board with effect from 2 September. Until then, Mr Quinn will work closely with Mr Elhedery to support a smooth and orderly handover of responsibilities. He will remain available to the Group and Mr Elhedery whilst on gardening leave until the conclusion of his 12-month notice period on 30 April 2025.