HSBC Chooses Elhedery as New CEO to Replace Quinn

HSBC named Georges Elhedery its next chief executive officer starting September 2. Elhedery will replace Noel Quinn, who announced his surprise decision to retire from the London-headquartered bank back in April. HSBC's choice of Elhedery as the new CEO continues the lender's tradition of picking insiders to run the bank. Bloomberg's Russell Ward reports.

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