Business

HSBC Wealth Chief Departs Amid Executive Shake-Up

Aug 29, 2024 1 min read

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HSBC's head of wealth and personal banking, Nuno Matos, is set to leave the bank in 2025 as part of a broader management restructuring. Barry O'Byrne, currently leading HSBC’s global commercial banking division, will replace Matos. Until his departure, Matos will support O'Byrne in an advisory capacity through 2024. This change comes amid the elevation of Georges Elhedery to the CEO position.

Additionally, HSBC is seeing other notable departures. Chief Operating Officer John Hinshaw and Chief Human Resources Officer Elaine Arden will be leaving their positions. Hinshaw's responsibilities will be divided into two separate roles, while Aileen Taylor will replace Arden. Stuart Riley is also set to take on an expanded role as Group Chief Information Officer. These changes are part of HSBC's strategy to adapt its leadership structure and enhance its focus on growing fee-based income.

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