Barry O’Byrne, who heads HSBC’s commercial banking business, will replace Nuno Matos, the company said on Thursday
HSBC’s Wealth and Personal Banking chief Nuno Matos is leaving the Asia-focused bank, one of several significant changes in its leadership on the eve of Georges Elhedery starting as CEO.
With an internal successor, Elhedery is seeking continuity of strategy rather than a major overhaul of the wealth business. A spokesperson for HSBC declined comment on whether Matos would be receiving a payout on his departure. “This is the right time for me to embrace new opportunities,” Matos told staff in an internal memo seen by Reuters, expressing his confidence in his successor O’Byrne.
Stuart Riley has been appointed to the expanded GCIO role, which will assume responsibility for Data and Innovation. The remaining Group COO duties will become the responsibility of the new GCOO, who will be appointed at a later date.
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