Exclusive | Elhedery to start his first day as global CEO in Hong Kong, showing city’s value to HSBC

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Elhedery will spend a few days with staff, visit key customers and Hong Kong’s financial regulators before returning to London at the end of next week

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Mia Castagnonein ShanghaiandEnoch Yiuin Hong Kong

Published: 11:37am, 30 Aug 2024Updated: 4:54pm, 30 Aug 2024

Georges Elhedery, the incoming chief executive officer of HSBC, is scheduled to begin his new job on Monday in Hong Kong, a visit that underscores the significance of the city which still serves as the bank’s largest revenue source.

Elhedery will spend a few days with his staff at the HSBC building in Central, visit key customers and Hong Kong’s financial regulators before returning to London at the end of next week, according to people familiar with his plans. .

Elhedery takes over the reins from Noel Quinn, who retired from the top job at one of the world’s largest banks after five years in the role. Elhedery would be the bank’s third chief executive since Mark Tucker assumed the chairmanship of HSBC in 2017.

“I have known Georges for almost 20 years,” Quinn wrote on LinkedIn in July when HSBC announced Elhedery’s promotion. “He understands the importance of putting our clients’ needs first, our heritage and our unique position in the world.”

Georges Elhedery, HSBC’s new chief executive officer, during an interview with Reuters in Dubai on August 7, 2017. Photo: Reuters.

Elhedery, 50, was born in Lebanon. He studied engineering at the École Polytechnique in Paris and holds a postgraduate degree in Statistics and Economics from the French École Nationale de la Statistique et de l’Administration Économique.AE).