Georges Elhedery has been named as the next group chief executive of HSBC, taking over from Noel Quinn, who is retiring later this year.
Quinn will work closely with Elhedery to ensure a smooth transition and handover of responsibilities. Quinn announced his retirement during the bank’s Q1 financial update. He has been in the post since 2019 and has worked for HSBC since 1987.
Elhedery’s appointment will take effect on 2 September and HSBC said it came after a “rigorous selection process that considered both internal and external candidates”.
He has worked for HSBC since 2005, when he joined as a senior global markets executive. Elhedery has also held several international roles, including regional head of global markets, Middle East and North Africa (MENA) in Dubai, then head of global banking and markets, MENA.
Elhedery later became CEO of HSBC, Middle East, North Africa and Türkiye, then moved to London where he served as head of global markets.
Since 2023, he has been HSBC’s group CFO.
Sir Mark Tucker, group chair, said: “I am delighted to confirm Georges as the next HSBC group chief executive. He is an exceptional leader and banker who cares passionately about the bank, our customers, and our people. He has a track record of leading through change, driving growth, delivering simplification, containing costs and brings a strong focus on execution.
“During his career, he has worked in Asia, the Middle East and Europe. Since joining the board as group chief financial officer in early 2023, and throughout the selection process, he has demonstrated his strategic insight and vision, and deep international perspectives.”
He added: “The board concluded that Georges was the outstanding candidate, and we look forward to working together as he leads HSBC through the next phase of development and growth.”
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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
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