HSBC APPOINTS GEORGES ELHEDERY AS NEW CHIEF EXECUTIVE

LONDON, July 17 (Bernama-PA Media/dpa) -- Georges Elhedery, currently HSBC Bank's chief financial officer, is set to assume the role of chief executive in September, succeeding Noel Quinn who announced his retirement in April, according to a report from PA Media/dpa news.

HSBC chairman Mark Tucker said in a statement: “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.

“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 joined HSBC in 2005 and was appointed to the board and as chief financial officer in January 2023.

He previously served as co-chief executive officer of global banking & markets and led the bank’s Middle Eastern, North Africa, and Turkey region as chief executive from July 2016 to February 2019.

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.”

Elhedery will continue in his current role until he officially takes over as chief executive on September 2, the bank said.

--BERNAMA-PA MEDIA/dpa