Georges Elhedery Appointed HSBC's New Group CEO

HSBC Holdings Plc has appointed Georges Elhedery as its group chief executive, effective from September 2. Elhedery, currently the chief financial officer, will replace Noel Quinn. Elhedery has been with HSBC since 2005 and previously led its Middle Eastern, North Africa, and Turkiye region. HSBC is focusing on its Asian ties for profit.

HSBC Holdings Plc announced on Wednesday that Georges Elhedery will become its group chief executive effective from September 2. He will be the third CEO for the global lender in less than eight years.

Elhedery, currently the chief financial officer, is replacing Noel Quinn. Since 2020, Elhedery has co-headed HSBC's Global Banking and Markets business. He joined HSBC in 2005 and has held several significant roles, including leading the Middle Eastern, North Africa, and Turkiye region.

Noel Quinn, who has led HSBC for the past five years, will remain available through his notice period ending April 30, 2025. Quinn managed the bank during challenging times, including a global pandemic and internal pushbacks, and guided it to record profits. HSBC, with a $3 trillion balance sheet, is now focusing on its Asian connections for growth.

(With inputs from agencies.)