PHOTO
HSBC Holdings has appointed Georges Elhedery as its group chief executive, effective 2 September 2024, following Noel Quin’s retirement. The HSBC veteran is expected to lead the company “through the next phase of development and growth,” according to group chairman Mark Tucker.
Elhedery, who has worked in Asia, the Middle East and Europe earlier, joined HSBC in 2005, with his most recent role seeing him serve on the Board as group CFO from early 2023.
The 50-year-old previously served as co-CEO of Global Banking & Markets, where he also led the Markets & Securities Services division. The Lebanon-born banking veteran also led the Group’s Middle Eastern, North Africa and Türkiye region as CEO from July 2016 to February 2019.
He will continue in the role of group CFO during the transition period. An announcement in relation to his successor will be made in due course, the company said.
HSBC has also confirmed that Quinn will step down as group chief executive and as an executive director of the Board with effect from 2 September, remaining on gardening leave until the completion of his 12-month notice period on 30 April 2025.
(Writing by Bindu Rai, editing by Seban Scaria)