Georges Elhedery Appointed as HSBC Group Chief Executive

HSBC announced that Georges Elhedery has been appointed as the new Group Chief Executive. Noel Quinn will step down from his position and the board effective September 2. Elhedery will continue as the Group Chief Financial Officer until a successor is announced. Quinn will assist Elhedery during the transition.

Georges Elhedery has been appointed as the new Group Chief Executive of HSBC, the company announced today. He will replace Noel Quinn, who will step down as Group Chief Executive and as an Executive Director of the Board effective September 2.

In addition to his new role, Elhedery will continue to serve as HSBC's Group Chief Financial Officer, a position he will hold until a new successor is named, which the company said will be announced in due course.

Outgoing Chief Executive Quinn will work closely with Elhedery to ensure a smooth and orderly transition of responsibilities.