HSBC announced the appointment of Georges Elhedery as the new group CEO effective September 2, succeeding Noel Quinn, who will depart after nearly five years leading the bank. Elhedery, currently the chief financial officer, was promoted to this role in January 2023 and will maintain his CFO responsibilities during the transition. Praised for his strategic insight and international experience across Asia, Europe, and the Middle East, Elhedery’s leadership qualities have been highly regarded by HSBC Group Chairman Mark Tucker. The bank has yet to name Elhedery’s successor as CFO. Quinn, who has been with HSBC for 37 years and led during the COVID-19 pandemic, intends to pursue a portfolio career post-transition.