As the search for a successor for the outgoing CEO Yao Yao Nian begins, HSBC Holdings is more inclined to seek candidates from within.
People familiar with the matter revealed that after Qi Yao-nian announced his retirement plan last month, financial director Georges Elhedery (Georges Elhedery) and head of wealth and personal banking Nuno Matos were considered leading candidates. Some people familiar with the matter, who requested anonymity in order to discuss internal processes, said HSBC has hired an external recruitment company to compare them with external candidates.
People familiar with the matter said that the search for a successor has only just begun, and the board of directors may still be moving in the other direction. An HSBC spokesperson declined to comment.