HSBC is currently undergoing a significant restructuring led by its new CEO, Georges Elhedery. This restructuring includes changes in senior management, with the departure of key executives.
Gabriel Castello, the CEO of HSBC Switzerland, will take on the role of interim CEO of Global Private Banking and Wealth starting January 1. Castello will also continue to serve as CEO of HSBC Private Bank in Switzerland, Country Head for Switzerland, and Regional Head of Global Private Banking for the EMEA region. Castello's extensive experience in the financial sector, including leadership roles at UBS and Caixabank, makes him well-suited for this interim position.
HSBC is also implementing changes to its organizational structure, including revised business units and regional divisions, to align with its strategic priorities. These changes are seen as crucial for HSBC to achieve its strategic objectives and adapt to evolving market conditions.
The bank is actively searching for a permanent successor for the Global Private Banking and Wealth position to ensure stability and foster growth in its private banking sector.