In his first few days as HSBC’s new group CEO, Georges Elhedery decided to visit Hong Kong, the bank’s largest market.
Effective September 2, Georges Elhedery became HSBC’s new group CEO, succeeding Noel Quinn. The importance of the British bank’s largest market in Hong Kong was on full display as Elhedery decided to visit the city in his first few days on the job.
«[Hong Kong] is an incredibly important market for us and Georges was keen to spend his first few days here,» said an «SCMP» report citing a bank statement. «He will meet with a range of customers, colleagues and government officials.»
Trip Itinerary
In a separate internal memo, Elhedery said that he would like to meet «as many [staff] as possible» this week, including the leadership team, and encouraged them to directly share business ideas.
Yesterday, he visited HSBC’s premier banking branch in the business district of Central before also visiting the bank’s wealth center in Causeway Bay, a popular shopping district. On Tuesday, he will host a Zoom meeting alongside Hong Kong CEO Luanne Lim to provide a business review and future outlook.
Business Strategy
According to Elhedery in the memo, the bank is now able to accelerate the execution of its strategy. This includes growing revenue on a «sustainable trajectory» while maintaining «high ethical standards, prudent risk management and strong cost discipline».
«We have the bulk of our capital and other resources deployed in our four scale activities: our two home markets of Hong Kong and the UK, our international wholesale bank underpinned by leading transaction banking capabilities and our wealth proposition – particularly in Asia,» he said.
«Our strategy is working, and I'm committed to continuing to build on it.»
