HSBC's global chief executive for insurance, Edward Moncreiffe, is set to leave the bank after two decades, Reuters reported. Moncreiffe, who took the role in 2024, will depart soon for external opportunities. His exit is the latest in a series of senior departures since group CEO Georges Elhedery launched a sweeping overhaul in 2024 to cut costs and focus on wealth growth. The bank plans to split the role, appointing two executives to succeed him, and Moncreiffe will officially leave in September.
HSBC Holdings PLCSenior executive departure amid cost-cutting overhaul signals management instability.
