HSBC appoints George Al-Hadiri as Group CEO effective September 2

In late April, HSBC unexpectedly announced that Quinn would leave the bank after nearly five years at the helm.

Al-Hadiri’s appointment as CEO comes less than two years after he was promoted to CFO in January 2023. The company said in a statement that he will continue to serve as group CFO during the transition period.

“I am deeply honored by the trust placed in me to lead this great organization into the future,” said Al-Hadiri. “Working with our talented team, I look forward to delivering exceptional value to our clients and investors by driving strong performance on a sustainable growth path.”

HSBC Group Chairman Mark Tucker said Al-Hadiri was “an exceptional leader and banker who cared passionately about the bank, our customers and our people.”

Al-Hadiri has worked in multiple regions during his career, including Asia, Europe and the Middle East. The bank said he “demonstrated his vision, strategic insight and deep international perspectives,” adding that the board considered him an “outstanding candidate.”

The bank has not yet announced a successor to Al-Hadiri as CFO.

HSBC said Quinn will work closely with Al-Hadiri to ensure a “smooth and orderly handover of responsibilities”. Quinn will remain available to the company while on gardening leave until his 12-month notice period ends on April 30, 2025.

Quinn has led the bank through challenges such as the Covid-19 pandemic and trade tensions between China and the West. He has been with the bank for 37 years and was appointed interim CEO in 2019.

“After five intense years, it is now time to better balance my personal life and my professional life,” Quinn said in April. “I intend to pursue a career in portfolio investing in the future.”

The bank’s shares in Hong Kong fell 0.15% on Wednesday.