Georges Elhedery has officially taken over as the new chief executive of HSBC, succeeding Noel Quinn. In an internal memo, Elhedery expressed his commitment to the bank’s existing strategy, stating: “Our strategy is working, and I’m committed to continuing to build on it.” He aims to shift HSBC from restructuring to growth amidst challenges such as potential interest rate cuts and geopolitical tensions. Elhedery, who joined HSBC in 2005, began his tenure with a visit to Hong Kong, the bank’s largest market, to engage with leadership teams, clients, and staff.
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