Georges Elhedery has been appointed as the group CEO of HSBC, succeeding Noel Quinn in September. Elhedery, who is currently serving as the chief financial officer, will take on the new role on Sept. 2. This announcement comes after Quinn's unexpected departure in late April after almost five years in charge. Elhedery's promotion to CEO comes just under two years after he was appointed as the CFO in January 2023. During the transition period, he will continue to serve as the group CFO. Elhedery expressed his excitement and determination to lead the institution towards sustained growth and create value for clients and investors. HSBC Group Chairman Mark Tucker praised Elhedery as an exceptional leader who is dedicated to the bank, its customers, and its employees.