Georges Elhedery is HSBC’s new group CEO

He is currently the CFO; Noel Quinn will retire on 2 September.

HSBC has named Georges Elhedery as its new group chief executive, effective 2 September 2024.

Elhedery is currently group chief financial officer and joined HSBC’s board in early 2023.

Incumbent CEO Noel Quinn will retire on 2 September and will work closely with Elhedery to ensure a smooth transition and handover of responsibilities, HSBC said in a statement posted on its website. Quinn had served as HSBC's official group CEO since 2020.

Elhedery first joined HSBC in 2005. During his career, he has worked in Asia, the Middle East, and Europe. 

Group chairman Sir Mark Tucker expressed delight in Elhedery’s appointment, hailing the incoming CEO as “an exceptional leader and banker.”

“He has a track record of leading through change, driving growth, delivering simplification, containing costs and brings a strong focus on execution,” Tucker said, according to HSBC’s statement.

“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,” Tucker added.

Elhedery said that he is deeply honoured for the trust placed in him to lead HSBC.

“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,” said Elhedery.