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HSBC appoints Georges Elhedery as group CEO starting Sept. 2
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HSBC appoints Georges Elhedery as group CEO starting Sept. 2
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HSBC APPOINTS GEORGES ELHEDERY AS GROUP CEO STARTING SEPT. 2

Published Wed, Jul 17 202412:36 AM EDTUpdated Wed, Jul 17 20241:24 AM EDT
Charmaine Jacob@in/charmainemariajacob@charmainemjacob
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Key Points
 * HSBC announced on Wednesday that it has appointed Georges Elhedery as group
   CEO, starting Sept. 2.
 * Elhedery replaces Noel Quinn, who has held the position for nearly five
   years.
 * Elhedery will continue to serve as group CFO during the transition period,
   and his successor for the role has not been announced.

HSBC logo is displayed outside a branch of in the United Kingdom.
Matt Cardy | Getty Images

HSBC announced on Wednesday that it has appointed Georges Elhedery as group CEO,
starting Sept. 2.

Elhedery, who is the current chief financial officer, will replace outgoing head
Noel Quinn in September.



In late April, HSBC unexpectedly announced that Quinn would depart after nearly
five years at the helm.

Elhedery’s appointment as CEO comes less than two years after he was promoted to
chief financial officer in January 2023. He will continue to serve as group CFO
during the transition period, the company said in a statement.

“I am deeply honoured by the trust placed in me to lead this great institution
into the future. Working together with our talented team, I look forward to
delivering exceptional value to our clients and investors by driving strong
performance on a sustainable growth trajectory,” Elhedery said.

HSBC Group Chairman Mark Tucker called Elhedery “an exceptional leader and
banker who cares passionately about the Bank, our customers, and our people.”



Elhedery has worked across multiple regions during his career, spanning Asia,
Europe and the Middle East. The bank said “he has demonstrated his strategic
insight and vision, and deep international perspectives,” adding that the Board
considered him an “outstanding candidate.”



The bank has not yet announced a successor to Elhedery as CFO.

Quinn will work closely with Elhedery to ensure a “smooth and order handover of
responsibilities,” HSBC said. Quinn will remain available to the company while
on gardening leave until his 12-month notice period ends on April 30, 2025. 

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Quinn has led the bank through challenges such as the Covid-19 pandemic and
trade tensions between China and the West. He has been with the bank for 37
years, and was appointed as interim CEO in 2019.

Quinn said in April, “After an intense five years, it is now the right time for
me to get a better balance between my personal and business life. I intend to
pursue a portfolio career going forward.”

The bank’s Hong Kong shares were 0.15% lower Wednesday.


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