HSBC announces completion of next stage of global reorganisation

HSBC announces the completion of the next stage of its plans to simplify the Bank’s organisational structure to accelerate the delivery of its strategy.

The changes will see HSBC create a simpler, more dynamic, agile organisation by operating through four key businesses.

This stage of the reorganisation has been completed at pace and the Bank has today announced the appointment of the senior leadership teams across all four businesses and the wider Group Operating Committee.

Georges Elhedery, HSBC Group CEO, said: “In October, we set out our plan to create a simpler, more dynamic, agile structure at HSBC.

“We have now completed the next stage of these important changes, which will help us fast forward our plans to execute our strategic priorities.

“The new structure will ensure we can better focus on the businesses where we have clear competitive advantage and the greatest opportunities to grow – and will help us to deliver best-in-class products and service excellence to our customers.

“While we are introducing these changes at pace, the process has been measured, thoughtful and fair. On behalf of everyone at HSBC, I would like to thank those who are leaving the Bank for their service and commitment.”

Further updates will be made at HSBC’s Full Year results in February.

All changes take effect from 1 January 2025, unless otherwise stated.

Please see more details in the addendum.

Media enquiries to:

Press Office
+44 (0)20 7991 8096
pressoffice@hsbc.com

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HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$3,099bn at 30 September 2024, HSBC is one of the world’s largest banking and financial services organisations