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HSBC is undergoing a restructuring under CEO Georges Elhedery, with significant management changes including the departure of Global Head of Private Banking Annabel Spring. Gabriel Castello, currently CEO of HSBC Switzerland, will serve as interim CEO of Global Private Banking and Wealth while retaining his other roles. The bank aims to enhance its strategic priorities through this reorganization.
HSBC is undergoing a restructuring under CEO Georges Elhedery, with Gabriel Castello, CEO of HSBC Switzerland, stepping in as interim CEO of Global Private Banking and Wealth. This change follows the departure of several senior executives, including the Global Head of Private Banking, as the bank implements a new organizational structure to enhance strategic priorities. Castello, who joined HSBC in 2022, brings extensive international experience and will continue to oversee HSBC Private Bank in Switzerland during this transition.
HSBC Holdings Plc announced that Annabel Spring, a senior female executive, will leave the company as part of a management reshuffle under new CEO Georges Elhedery. Her roles in private banking and wealth management will be divided between Gabriel Castello and Lavanya Chari.
Switzerland remains a top destination for high-net-worth individuals, with 11% of UAE respondents and 8% from Hong Kong considering relocating assets there. Swiss entrepreneurs show greater optimism about wealth growth, yet 45% cite a lack of confidence in the next generation for succession, with over half lacking plans.

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