HSBC has announced Brendan Nelson as its new Group Chair following an interim leadership period.

HSBC made the Announcement on Wednesday (3 December), with the appointment effective immediately. Nelson has been serving as the interim Group Chair since October 1, 2025, after joining the Board in September 2023.

The decision to appoint Nelson follows an extensive selection process that included various internal and external candidates. However, it has come as a surprise to many, considering that as recently as Tuesday HSBC CEO Georges Elhedery had said at the FT Global Banking Summit in London that Nelson had expressed a desire not to take on the chairman's job on a permanent basis, given the current stage of his career. Nelson is 76. 

Despite the raised eyebrows, HSBC is positive about the appointment. Ann Godbehere, the Senior Independent Non-executive Director, and a member of the board, expressed her confidence in Nelson’s leadership abilities, stating, “On behalf of the Board, I am delighted with Brendan’s appointment as our Group Chair. Since assuming the role of interim Group Chair, Brendan has demonstrated his excellent leadership capabilities backed by his strong banking and governance credentials.”

Brendan Nelson boasts an extensive career in financial services, having previously led the Global Financial Services Practice at KPMG, where he advised and audited international banks. His experience also includes serving on the Boards of prominent companies including BP, RBS, and HSBC itself.

Upon his appointment, Nelson expressed his honor in taking on the role, stating, “I look forward to continuing to work with the Board, Georges, and the wider management team as we deliver on our strategic and financial objectives.” He will continue to serve as the Chairman of the Group Audit Committee until the publication of HSBC's Annual Results for 2025, expected in February next year.

The Board also noted that details regarding Nelson’s successor as Chairman of the Group Audit Committee would be provided in due course.

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