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Georges Elhedery

Georges Elhedery
The latest news and top stories on Georges Elhedery, Group Chief Executive of HSBC. Known for his extensive career in financial services, Elhedery officially assumed his current role on 2 September 2024, succeeding Noel Quinn. He joined HSBC in 2005, progressing through various senior leadership positions including Group Chief Financial Officer from January 2023, Co-CEO of Global Banking & Markets, and CEO for the Middle East North Africa and Turkey region. He has a background in engineering and economics, having studied at École Polytechnique in Paris.
Standard Chartered CEO Bill Winters. Photo: Jonathan Wong
Banking & finance

Standard Chartered CEO apologises for ‘lower-value human capital’ remarks

Winters expresses regret for his choice of words describing how AI would replace some workers at the lender.

Banking & finance

HSBC’s CEO says AI will both create and destroy financial industry jobs

Banking & finance

HSBC profit flat as Middle East provisions offset wealth growth

Banking & finance

OCBC acquires HSBC’s retail and wealth management operations in Indonesia

The move will add 336,000 customers and US$5.17 billion in assets under management to OCBC Indonesia.

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Skyline of Boat Quay with prominent bank buildings in Singapore’s financial district, featuring OCBC, UOB, and Raffles Place. On Monday, OCBC announced its decision to take over HSBC’s retail and wealth management in Indonesia. Photo: Shutterstock
Banking & finance

No records, no role: HSBC, StanChart reject Iran-linked money laundering claim

HSBC chairman Brendan Nelson says bank is not a party to alleged Iran-linked case and holds no records, as US court seeks information.

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Banking & finance

Manulife, HSBC, Barclays lead big finance firms’ AI adoption in Hong Kong

Financial Secretary Paul Chan Mo-po launched an AI+ strategy in this year’s budget speech to promote AI applications in the banking sector.

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Banking & finance

HSBC vows to keep investing in China as new trade growth corridors emerge

HSBC’s CEO said financial institutions needed to ‘keep up’ with the rapid expansion of Chinese companies on their journey to ‘go global’.

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Last year saw a steady growth in global trade but the landscape has been complicated by shifting tariffs, geopolitical tensions and regional conflicts. Photo: Xinhua
Fintech

Exclusive | HSBC, Standard Chartered tipped to win Hong Kong stablecoin licences in 2 weeks

The approvals would mark a milestone in Hong Kong’s push to regulate stablecoins while positioning itself as a global digital asset centre.

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Banking & finance

HSBC signals intent to join Hong Kong’s stablecoin regime amid digital hub push

Georges Elhedery declined to confirm whether HSBC applied for stablecoin licence but indicated that discussions with regulator were ongoing.

Banking & finance

HSBC to boost spending in Hong Kong, other high-growth markets to US$1.8 billion

HSBC reported a 7 per cent profit drop, but shares rose on its CEO’s comments on higher return goals, steady dividends and new growth plans.

HSBC Holdings is the largest banking group in Europe and Hong Kong by assets. Photo: Reuters
Banking & finance

HSBC suffers temporary system shutdown, stopping services in Hong Kong

The bank’s mobile app and in-person services at several branches were unavailable for up to several hours for some customers during the outage.

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Pedestrians walk past the lion statues outside HSBC’s Hong Kong headquarters in Central. Photo: Elson Li
Banking & finance

HSBC reviews Singapore insurance unit amid high Hong Kong, mainland China growth

It ‘makes sense’ for HSBC to focus on ‘core high-growth markets’ that have ‘underpenetrated’ insurance needs, analyst says.

Banking & finance

What does HSBC’s buyout of Hang Seng Bank mean for its future and investors?

HSBC’s historic US$13.6 billion buyout of Hang Seng Bank aims to cut costs, tackle bad debts and fuel growth, but challenges abound.

Banking & finance

Hang Seng Bank shareholders approve HSBC’s US$14 billion buyout plan

HSBC receives strong backing from Hang Seng Bank’s independent shareholders, getting 85.75 per cent of the votes.

HSBC announced a US$14 billion bid to buy out Hang Seng Bank in October. Photo: Jelly Tse
Banking & finance

Hang Seng Bank shareholders to vote on HSBC buyout proposal on January 8

Hang Seng Bank’s independent financial adviser recommends that shareholders vote in favour of HSBC’s proposal to privatise the lender.

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HSBC is in the midst of finalising its takeover of Hang Seng Bank. Photo: Jelly Tse
Banking & finance

HSBC names veteran accountant Brendan Nelson new chairman amid Asia growth push

Appointment surprises market after HSBC CEO Georges Elhedery earlier said the 75-year-old was not keen on a permanent role.

Fintech

Hong Kong reaps the fruits of fintech seeds sown nearly 10 years ago

Hong Kong’s rise as a fintech hub is due to the concerted regulatory push, with the city competing with Singapore for regional leadership.

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Hong Kong politics

Beijing’s point man on Hong Kong affairs meets HSBC CEO Georges Elhedery

But Hong Kong and Macau Affairs Office does not reveal what was discussed in meeting between Xia Baolong and HSBC chief in Beijing.

Hong Kong and Macau Affairs Office director Xia Baolong meets HSBC Group CEO Georges Elhedery in Beijing. Photo: Handout
Banking & finance

China-US ties find ‘stable equilibrium’ but tech threats loom: financial leaders

Technological disruptions like unregulated stablecoin issuers pose risks, speakers say at the Global Financial Leaders’ Investment Summit.

Banking & finance

Exclusive | Property credit quality issues manageable for Hong Kong banks: HKMA’s Eddie Yue

The banking sector next year has more opportunities than challenges, HKMA’s chief executive says.

Hong Kong Monetary Authority (HKMA)

Exclusive | From boardrooms to hiking trails: HKMA courts top bankers with business and leisure

BlackRock’s Larry Fink and General Atlantic’s William Ford will attend the HKMA summit for the first-time.

HKMA chief executive Eddie Yue Wai-man plans to show visiting bankers “the real beauty of Hong Kong” during the summit. Photo: Edmond So
Banking & finance

HSBC names new CEO of ring-fenced UK division amid biggest overhaul in a decade

David Lindberg, formerly of NatWest Group, will start in December and replace Ian Stuart, who is moving to a new role, according to HSBC.

A sign outside of an HSBC bank in London. The bank is undertaking its biggest overhaul in a decade. Photo: EPA
Fintech

Hong Kong FinTech Week expects investment ‘action’, InvestHK says

The November event, held jointly with the StartmeupHK festival, is expected to attract more than 37,000 attendees and 700 exhibitors.

Banking & finance

Li Auto CEO Hong Kong’s highest-paid executive, Webb-site shows

CEO Li Xiang’s US$87.4 million remuneration package Hong Kong’s highest, according to finance activist league table.

Banking & finance

Is HSBC’s US$13.6 billion buyout offer good enough for Hang Seng Bank investors?

While the premium for Hang Seng Bank shares is huge, analysts debate if it is a win-win for investors and HSBC’s long-term value.

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Hang Seng Bank’s logo is seen at the bank’s headquarters. HSBC’s proposal values Hang Seng Bank at US$37.3 billion. Photo: Jelly Tse
Banking & finance

Editorial | Amid property slump, Hang Seng privatisation makes good business sense

The decision to retain Hang Seng as Hongkongers know it ensures the 92-year-old bank does not get swept into the dustbin of history.

People wait in Hang Seng Bank’s headquarters in Central on October 9. Photo: Jelly Tse
Banking & finance

Plan to privatise Hang Seng Bank elicits mixed reactions from customers

Some customers see no reason to worry as long as Hang Seng Bank ‘continues to provide good services’.

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Banking & finance

HSBC to take Hang Seng Bank private in surprise bid for efficiency

HSBC offers to buy subsidiary Hang Seng Bank’s shares for HK$155 each, according to an exchange filing on Thursday.

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