BY COMFORT OGBONNA
HSBC’s CEO of Wealth and Personal Banking, Nuno Matos, is resigning to pursue other opportunities, the Asia-focused bank announced on Thursday as it revealed a major shake-up in its leadership team, just before Georges Elhedery assumes the role of CEO.
Matos, based in Hong Kong, joined HSBC in 2015 and was among the internal candidates considered to replace Noel Quinn as Group CEO before the board appointed Chief Financial Officer Elhedery last month, according to sources who spoke to Reuters.
Matos was a member of the bank’s 18-person Group Executive Committee and has held leadership roles in several key regions, including Europe and Latin America. Barry O’Byrne, CEO of Global Commercial Banking, will succeed Matos. Matos is expected to remain in an advisory role throughout 2024 before leaving the bank in 2025.
John Hinshaw, HSBC’s Group Chief Operating Officer, has also decided to leave the bank to pursue other opportunities, the company stated.
When Elhedery officially takes over on Monday, he will divide responsibilities between two new Group Executive Committee roles: an enhanced and expanded Group Chief Information Officer (GCIO) and a newly defined Group Chief Operating Officer (GCOO). Stuart Riley has been appointed to the expanded GCIO role, which will now include responsibilities for Data and Innovation. The responsibilities of the Group COO will be handled by the new GCOO, who will be appointed later.
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