HSBC Appoints Georges Elhedery As Group CEO

On Wednesday, HSBC has appointed Georges Elhedery as the new group CEO, effective 2 September. Elhedery, who currently serves as the chief financial officer, will succeed Noel Quinn, who is stepping down after nearly five years in the role.

HSBC unexpectedly revealed Quinn's departure in late April. Elhedery's elevation to CEO comes less than two years after his promotion to CFO in January 2023. He will retain his CFO responsibilities during the transition period, according to a company statement.

"I am deeply honored by the trust placed in me to lead this great institution into the future. I look forward to working with our talented team to deliver exceptional value to our clients and investors by driving strong performance on a sustainable growth trajectory," Elhedery said.

HSBC Group Chairman Mark Tucker praised Elhedery as "an exceptional leader and banker who cares passionately about the bank, our customers, and our people."

Elhedery has extensive experience across multiple regions, including Asia, Europe, and the Middle East. The bank highlighted his strategic insight, vision, and deep international perspectives, noting that the Board considered him an outstanding candidate.

HSBC has not yet announced who will succeed Elhedery as CFO.