1002 GMT - HSBC Holdings is among the most mentioned companies across news items over the past six hours, according to Factiva data. The global bank named Georges Elhedery as its new chief executive officer, replacing Noel Quinn who announced his retirement in April. Elhedery--currently the lender's finance chief and veteran of the group--had been identified as the early front-runner for the top job. The move "follows HSBC's normal route of promoting from within when it comes to CEO appointments and, while this approach brings continuity, it does not bring the sort of fresh insight that an external appointment might," Shore Capital analyst Gary Greenwood wrote in a note to clients, adding that the news didn't come as a surprise. Shares in London trade down 0.1% at 663.3 pence but have gained 4.4% year to date. Dow Jones & Co. owns Factiva. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
07-17-24 0617ET
