Georges Elhedery Appointed as CEO for HSBC Group Starting This September

In a significant leadership update revealed today, HSBC has named Georges Elhedery as its new group chief executive officer, with his tenure commencing on Sept. 2.

Presently, Elhedery serves as HSBC’s chief financial officer, and he will step into the role of the bank’s chief, taking over from Noel Quinn in September. HSBC revealed in April that Quinn would be stepping down after leading the company for nearly five years.

Under two years after his promotion to CFO in January 2023, Elhedery has been appointed as CEO. According to the company’s statement, during the shift, he will maintain his responsibilities as group CFO.

Elhedery said, “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.”

Mark Tucker, chairman of HSBC Group, referred to Elhedery as “an exceptional leader and banker who cares passionately about the Bank, our customers, and our people.”

Having worked in multiple regions throughout his career, including Asia, Europe, and the Middle East, Elhedery brings a wealth of international experience to the role. The bank noted that “he has demonstrated his strategic insight and vision, and deep international perspectives,” and the Board considers him an “outstanding candidate.”

There has been no announcement yet as to who will take over Elhedery’s current role as CFO.

According to HSBC, Quinn will collaborate with Elhedery to guarantee a seamless transition of duties. During his gardening leave, Quinn will stay accessible to the company until April 30, 2025, which is when his 12-month notice period comes to a close.