HSBC appoints Georges Elhedery as group CEO beginning Sept. 2

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.

Quinn said at that time: “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.”

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.

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