HSBC has sold its Singapore life insurance business for £1.6 billion as part of a restructuring effort led by Chief Executive Georges Elhedery, who took the top post two years ago.

HSBC CEO Georges Elhedery was interviewed on Bloomberg, where he discussed the bank's strategy regarding artificial intelligence and efforts to reduce complexity within its operations.

HSBC CEO Georges Elhedery has told employees to accept that AI will eliminate some jobs while creating others, as the bank reportedly considers a significant global overhaul that could impact 20,000 positions.

HSBC, the largest lender in Europe and Hong Kong by assets, has signalled for the first time its intent to engage with the city’s forthcoming stablecoin regime, citing Hong Kong’s sound regulatory environment and its potential to drive innovation in the digital asset space. “We are interested in every part of Hong Kong’s innovation landscape, and we want to play a role in all of it,” CEO Georges Elhedery said in a small-group interview – in response to a question whether the bank had applied ...

Lender ‘becoming a simple, more agile, focused bank built for a fast-changing world’, says Georges Elhedery The chief executive of HSBC has signalled that his planned overhaul of Europe’s largest lender is drawing to a close despite a slide in annual profits. The bank’s chief executive, Georges Elhedery – who took over in 2024 – said it was “becoming a simple, more agile, focused bank built for a fast-changing world”. Continue reading...