HSBC has named its finance head Georges Elhedery as the international bank’s next chief executive.  

The lender says Elhedery, its group chief financial officer, will take over from current head Noel Quinn on 2 September, following “an orderly and robust succession process”.  

Elhedery, who took engineering and economics degrees in France, has been head of the group’s finance function since January 2023.  

He first joined the business in 2005 as global head of structured rates, global banking and markets. Since then, he has worked in a variety of senior roles at the bank across Asia, the Middle East and Europe.  

HSBC group chairman Sir Mark Tucker says: “He [Elhedery] has a track record of leading through change, driving growth, delivering simplification, containing costs and brings a strong focus on execution.”  

Elhedery adds: “Working together with our talented team, I look forward to delivering exceptional value to our clients and investors by driving strong performance on a sustainable growth trajectory.”  

The bank will announce a new group chief financial officer “in due course”.  

Quinn, who has worked at the bank for 37 years, will step down from his post in September, but “will remain available” to the bank and the new chief executive until he completes his 12-month notice period next April.  

In February, HSBC UK reported that its mortgage lending balances lifted by $5bn (£4bn) from a year ago.    

The move took the mortgage gross carrying amount of the lender’s UK arm to $161bn (£128bn), according to the group’s 2023 annual report.    

It added: “We also increased our market share of UK mortgage stock, from 7.4% in 2020 to 8% in 2023, according to Bank of England data.    

“As economic conditions improve and we continue to invest, we are confident in our ability to grow further in these critical markets.”