HSBC Holdings plc (HSBC) Q3 2022 Earnings Call Transcript
HSBC Holdings plc (NYSE:HSBC) Q3 2022 Earnings Conference Call October 25, 2022 3:30 AM ET
Company Participants
Noel Quinn - Group Chief Executive Officer
Ewen Stevenson - Group Chief Financial Officer
Conference Call Participants
Omar Keenan - Credit Suisse
Robert Noble - Deutsche Bank
Joseph Dickerson - Jefferies
Fahed Kunwar - Redburn
Yafei Tian - Citigroup
Tom Rayner - Numis
Manus Costello - Autonomous Research
Martin Leitgeb - Goldman Sachs
Raul Sinha - J P Morgan
Aman Rakkar - Barclays Bank PLC
Operator
Good morning, ladies and gentlemen, and welcome to the Investor and Analyst Conference Call for HSBC Holdings plc's Q3 2022 results. For your information, this conference is being recorded.
At this time, I will hand the call over to your host, Mr. Noel Quinn, Group Chief Executive. You may begin, sir.
Noel Quinn
Thank you. And good morning in London, and good afternoon in Hong Kong. Thank you for joining our third quarter results call. Ewen in going to lead the financial presentation but I want to start by first talking about the leadership changes we've also announced. We've now spent nearly three years transforming HSBC. And while there's still work to do, we are now in much better place to accelerate our financial performance and deliver stronger returns.
As we approach the end of our three year transformation program, myself and the Board have taken the opportunity to review the composition of the GEC with an eye to long term succession planning. As a result, we have today announced that Georges Elhedery will take over as Group Chief Financial Officer on the 1st January 2023 and Greg Guyett will take on the role of CEO of GB&M permanently, effective immediately. Ewen will therefore step down as Group CFO on the 31st of December and will leave the Bank in April 2023.
I want to put on record, my thanks to Ewen for everything he's done during his time with us. He played a key part in creating and executing our transformation and growth agenda over the last four years. He helped the HSBC through the COVID pandemic. He has been fundamental in reshaping our portfolio globally, improving our capital efficiency and embedding disciplined cost management across the organization.
He has also driven the transformation agenda within the finance function, reshaping its strategic direction, encouraging innovation, and building the team's engagement levels. He's been a great professional, has contributed much to the bank. And I wish him the very best for his future career. I want to emphasize, we remain absolutely committed to delivering our strategy and the 2023 targets we announced with our Q2 results. There is no change to my commitment as a consequence of these people moves.