New HSBC chief moves fast with cull of senior executives

THE new boss of HSBC today unveiled a brutal boardroom shake-up before even taking the helm of Britain's biggest bank, after announcing the departure of three senior boardroom executives.

- Michael Hunter

Georges Elhedery, who was appointed chief executive in July, had signalled he was considering cutting the number of executives reporting into him.

HSBC revealed the first details of the cull this morning, in an announcement to staff sent around its headquarters at Canada Square in Canary Wharf.

John Hinshaw is leaving his job as chief operating officer, responsible for the day-to-day running of the bank, which he held since December 2019.