HSBC Favors Internal Candidates as New CEO Search Gets Underway
- Elhedery, Matos seen as early favorites to succeed Quinn
- Search is at an early stage and no decision yet taken
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HSBC Holdings Plc is leaning towards appointing its next chief executive officer from a shortlist of internal candidates as it begins its hunt for a successor to outgoing boss Noel Quinn.
Chief Financial Officer Georges Elhedery and Nuno Matos, head of wealth and personal banking, are viewed as the leading replacements for Quinn, who announced his retirement last month, according to people familiar with the matter. The bank has engaged an external recruitment firm to benchmark them against external candidates for the job, some of the people said, asking not to be identified discussing an internal process.