HSBC names Georges Elhedery as successor to Noel Quinn

HSBC Holdings has appointed its group chief monetary officer (CFO) Georges Elhedery as group chief govt, efficient from September 2.

The appointment of Elhedery (pictured) follows a variety course of that thought-about each inside and exterior candidates, after present group chief govt Noel Quinn introduced his departure earlier within the yr in April. 

Elhedery joined HSBC in 2005 and has labored in monetary providers, in quite a lot of high-profile worldwide roles, together with as co-CEO of worldwide banking & markets for nearly three many years. This contains roles in Asia, the Center East and Europe. He grew to become CFO in January 2023. 

In a July 17 assertion from the London headquartered financial institution, HSBC’s group chairman Mark Tucker stated: “I am delighted to verify Georges as the following HSBC group chief govt. He’s an distinctive chief and banker who cares passionately in regards to the financial institution, our clients, and our folks. He has a monitor file of main by means of change, driving progress, delivering simplification, containing prices and brings a robust concentrate on execution.”

Tucker added: “Throughout his profession, he has labored in Asia, the Center East and Europe. Since becoming a member of the board as group chief monetary officer in early 2023, and all through the choice course of, he has demonstrated his strategic perception and imaginative and prescient, and deep worldwide views.”

“The board concluded that Georges was the excellent candidate and we look ahead to working collectively as he leads HSBC by means of the following part of growth and progress,” he continued.

Elhedery stated: “I am deeply honoured by the belief positioned in me to steer this nice establishment into the long run. Working along with our gifted crew, I look ahead to delivering distinctive worth to our shoppers and traders by driving robust efficiency on a sustainable progress trajectory.”

Quinn will go away the agency on September 2, 2024, and can work carefully with Elhedery to make sure a clean transition and an orderly handover of duties.

For extra evaluation from FinanceAsia on the challenges that Elhedery will face within the position, please click on right here. 
 

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