HSBC Holdings plc announced that Georges Elhedery will step down as CFO to become Group Chief Executive, with effect from 2 September 2024. Georges will continue in the role of Group Chief Financial Officer during the transition period. An announcement in relation to Georges' successor as Group CFO will be made in due course.

During his career he has worked in Asia, the Middle East and Europe. Since joining the Board as Group Chief Financial Officer in early 2023 and throughout the selection process, he has demonstrated his strategic insight and vision, and deep international perspectives. Mr. Elhedery, aged 50, joined HSBC in 2005.

He is currently an Executive Director and Group Chief Financial Officer. Professional Qualifications of Mr. Elhedery: Degree in Engineering, Ecole Polytechnique, Paris, France, Postgraduate degree in Statistics and Economics, Ecole Nationale de la Statistique et de l'Administration Economique (ENSAE), France. HSBC Career History of Mr. Elhedery: Group Chief Financial Officer - January 2023 to date, Co-CEO, Global Banking and Markets - March 2020 to December 2022, Global Head of Markets - March 2019 to February 2020, CEO, Middle East, North Africa and Turkiye - July 2016 to February 2019, Head of Global Banking and Markets, Middle East and North Africa - 2014 to July 2016, Head of Global Markets and Head of Capital Financing, Middle East and North Africa - 2013 to 2014, Head of Global Markets, Middle East and North Africa - 2010 to 2013, Deputy Global Head of Rates, Markets, Global Banking and Markets - 2009 to 2010, Global Head of Structured Rates, Global Banking and Markets - 2005 to 2009.