Hong Kong and Shanghai Banking Corporation (HSBC) has announced the promotion of the Lebanese Georges Elhedery, its Chief Financial Officer, to the role of Group Chief Executive Officer.
This decision aligns with the bank’s tradition of internal promotions, even though external candidates were also considered.
Elhedery, who has been with HSBC since 2005, has served as the CFO for the past two years.
Before his tenure as CFO, he co-led the global banking and markets division, which was responsible for nearly a quarter of the group’s revenue in the previous year.
Mark Tucker, HSBC’s group chairman, expressed his enthusiasm for Elhedery’s appointment, saying, “Georges is an outstanding leader and banker, deeply committed to our bank, our clients, and our team. He has demonstrated his ability to guide the organization through change, drive growth, streamline operations, and manage costs effectively.”
Born in Lebanon, Elhedery later moved to France, where he earned an Engineering Degree from Ecole Polytechnique in Paris and a Postgraduate Degree in Statistics and Economics from Ecole Nationale de la Statistique et de l’Administration Economique (ENSAE).
Elhedery will take on his new role at the start of September, succeeding Noel Quinn.
To ensure a smooth transition, Quinn will collaborate closely with Elhedery during the handover period.
