HSBC Appoints Georges Elhedery as CEO to Drive Growth

HSBC Holdings has named Georges Elhedery, currently Chief Financial Officer, as its next Chief Executive Officer, signalling a focus on continuity as it aims to stimulate growth and Elhedery will become HSBC’s third CEO in less than eight years. He will succeed Noel Quinn on September 2.

Quinn, who led HSBC for five years, will continue as CEO until Elhedery takes over. Upon announcing his unexpected departure in April.

The appointment comes as HSBC seeks to transition from restructuring to growth amid stabilising interest rates and ongoing geopolitical tensions.

Georges Elhedery, 50, began his banking career as a rates trader before joining HSBC in 2005. He led HSBC’s Middle Eastern, North Africa, and Turkey region from July 2016 to February 2019. Following that, he Co-headed the Global Banking and Markets division, which includes HSBC’s trading and investment banking advisory businesses. In October 2022, he was unexpectedly appointed CFO, shortly after returning from a sabbatical, positioning him for the CEO role.