HSBC Appoints Lisa McGeough as U.S. President and CEO

By Lananh Nguyen

NEW YORK (Reuters) – HSBC has appointed Lisa McGeough as its president and CEO for the United States, effective at the start of next year, as announced in a Thursday statement.

This change is part of a significant restructuring led by new CEO Georges Elhedery, who is implementing various leadership changes and reorganizing the bank's operations into East and West divisions.

McGeough, who is currently co-head of global banking coverage, will focus on enhancing HSBC's wholesale business in the U.S. She replaces Michael Roberts, who has been promoted to CEO of the newly-merged corporate and institutional banking business and will move to London.

With over three decades in banking, McGeough joined HSBC in 2021 after spending more than 15 years at Wells Fargo, where she served as head of international and jointly led the corporate and investment banking unit, as well as overseeing the financial institutions and industrials groups.

Notably, McGeough is HSBC's first female CEO in the U.S. in over a decade and only the second woman to hold this position in the bank's 150-year history.