HSBC Insurance Chief Edward Moncreiffe to Exit Bank

Edward Moncreiffe, the global chief executive for insurance business at HSBC, will leave the bank in September to pursue external opportunities. His departure ends a two-decade tenure with the lender and marks the latest in a series of high-profile senior executive exits.

These leadership changes occur as Group CEO Georges Elhedery implements a sweeping overhaul launched in 2024. The restructuring aims to reduce costs, trim sub-scale businesses, and prioritize wealth growth. Other recent departures include former U.S. banking chief Lisa McGeough, former banking head for Europe and the Americas Gerry Keefe, and cash equities trading heads James Grafton and Steve Jobber.

HSBC reportedly plans to split Moncreiffe's current responsibilities between two new executives. A spokesperson for the bank declined to comment on the matter.