Edward Moncreiffe, HSBC’s global chief executive for insurance business, is set to leave the bank after two decades with the lender, according to two people with direct knowledge of the matter.
Moncreiffe, who took over the role at the Asia-focussed lender in 2024, will leave soon for external opportunities, the sources said, speaking on condition of anonymity because the matter has not yet been publicly disclosed.
A Hong Kong-based spokesperson for HSBC declined to comment. Moncreiffe, whose impending departure from HSBC has not been reported previously, did not immediately respond to requests for comment.
Moncreiffe’s departure would mark the latest in a string of senior executive exits at HSBC since group CEO Georges Elhedery launched a sweeping overhaul after taking the helm in 2024 to cut costs, trim sub-scale businesses and focus on wealth growth.
The bank plans to appoint two executives to succeed Moncreiffe, effectively splitting the role, one of the sources said. Moncreiffe will officially leave in September, according to the other source.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
