Nuno Matos has stepped down from the role of chief executive of global wealth and personal banking (WPB) at HSBC Holdings as his successor Barry O’Byrne is named, effective from 1 October 2024, in a raft of management changes.
HSBC said in a statement on 29 August that he decided to step down to pursue other opportunities after nine years with the group.
He will support Hong Kong-based O’Byrne in an advisory capacity throughout 2024 and will leave the group in 2025 after a period of gardening leave. Matos has led the group in Mexico, Europe and played a significant role in growing the WPB business globally as CEO.
Aileen Taylor, Group Company Secretary & Chief Governance Officer, is appointed group chief human resources and governance officer, taking over from Elaine Arden, group chief human resources officer, who after seven years in role, has decided to step down.
Elaine “made a lasting positive impact on HSBC, including through her leadership of the work to help reset HSBC’s Purpose, Strategy and Values, enhance the Group’s talent identification and development capabilities, and to simplify and develop the Group’s performance culture”.
John Hinshaw, group chief operating officer (GCOO), has decided to leave the group to pursue other opportunities. Since joining the bank in 2019, he has played an important part in the development of the Group’s technology and operations strategies, simplifying our approach, and improving the resilience of the group. He has improved our third-party supplier relationships, refreshed the Group’s approach to innovation, and led the work to identify and secure the Group’s new global headquarters in London.
Georges Elhedery, HSBC Group chief executive officer designate, has reviewed the accountabilities of the current GCOO role and will split the responsibilities between two new group executive committee level roles – an elevated and expanded role of group chief information Officer, (GCIO), and a newly defined group chief operating officer (GCOO).
Stuart Riley is appointed to the expanded GCIO role, which will assume responsibility for Data and Innovation. He joined the Group in February 2024 and has made a strong and positive impact demonstrating the right capabilities, energy, and values to lead HSBC’s technology teams in the delivery of our technology ambitions. He brings extensive experience in managing global technology for large banking institutions, most recently as Global Co-CIO for Citi, where he co-led the Technology Division.
The remaining Group COO accountabilities will become the responsibility of the new GCOO. Suzy White, Global Banking & Markets Chief Operating Officer, has been appointed GCOO on an interim basis, whilst a formal recruitment process is carried out. In this interim capacity, Suzy will attend GEC but will not be a member. Suzy has been with HSBC for over 25 years in a variety of roles including COO for Global Markets and Securities Services and Chief Risk Officer for GBM and CMB in the US.
Georges Elhedery, HSBC group chief executive officer designate, said: “I am really looking forward to working with Barry, Aileen, Stuart and Suzy, as we pursue the next phase of our growth. It has been a pleasure working with Nuno, Elaine and John. I wish them every success in the future”.
Noel Quinn, group chief executive officer, said: “I’d like to thank Nuno, Elaine and John for their extraordinary dedication and service to the Group over many years. I wish them well in their future endeavours.”
