Hong Kong and Shanghai Banking Corporation (HSBC) Holdings announced that Georges Elhedery, the company’s current chief financial officer, will succeed departing CEO Noel Quinn as group chief executive officer effective in September.
Elhedery’s appointment will take effect on September 2, according to a statement from HSBC. The bank had looked at both internal and external candidates to replace Quinn.
Who is Georges Elhedery?
- Georges Elhedery was born in Lebanon
- He completed his education in France
- Georges Elhedery, then fifty, became an employee of HSBC in 2005
- He held the position of co-CEO of Global Banking and Markets at HSBC until January 2023. And then the chief financial officer role was subsequently taken over by him.
- He managed the bank’s activities in Turkey, North Africa, and the Middle East from July 2016 until February 2019
- He would receive a base salary of £1.38m a year, with a fixed allowance of £1.7m and a pension allowance of £137,6000, the Guardian reported.
- Elhedery has a proven track record of leading through change, driving growth, delivering simplification, controlling costs, and bringing a strong focus on execution, according to HDBC Chairman Mark Tucker
“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 said, speaking on his appointment.
