"HSBC Names Jo Miyake Interim CEO of Global Commercial Banking"

HSBC has appointed Jo Miyake as the interim CEO of its Global Commercial Banking division. This leadership change is expected to guide the division through its current phase and address ongoing challenges. The appointment reflects HSBC's commitment to maintaining strong leadership in its commercial banking operations during this transitional period.

HSBC (HSBA.L) has announced the appointment of Jo Miyake as the interim Chief Executive Officer of its Global Commercial Banking division, as reported in an internal memo reviewed by Reuters on Wednesday. This change comes as part of a broader series of leadership shifts since Georges Elhedery assumed the role of Group CEO.

Jo Miyake, who is currently serving as the Chief Commercial Officer for HSBC’s Global Commercial Banking, will step into this interim CEO position following Barry O'Byrne's transition to lead the Wealth and Personal Banking division. The memo indicates that Miyake’s new role will officially commence on October 1. During this period, he will continue in his new capacity while HSBC conducts a formal recruitment process to find a permanent successor.

The memo, confirmed by a spokesperson for HSBC, highlights Miyake's extensive experience and current role within the bank, positioning him well to oversee the Global Commercial Banking division during this transitional phase. This appointment reflects HSBC's ongoing efforts to maintain stability and effective leadership across its various business units as the company adapts to changing leadership dynamics under Elhedery’s new direction.

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Source: Reuters‍