Market Chatter: HSBC Insurance Chief to Leave After 20 Years

MT Newswires Live08-12 14:56

HSBC Holdings (HKG:0005) global insurance chief Edward Moncreiffe is set to leave the bank in September, Reuters reported Wednesday, citing two people familiar with the matter.

Moncreiffe, who took the global insurance role in 2024, is leaving the lender after two decades for external opportunities, the sources told Reuters. HSBC reportedly plans to split his responsibilities between two executives, with their appointments expected to replace him.

The departure comes as HSBC continues a broader restructuring under CEO Georges Elhedery, aimed at cutting costs and focusing on wealth growth, Reuters noted.

HSBC declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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