According to reports, HSBC Holdings (00005) Global Insurance CEO Edward Moncreiffe is expected to leave the company in September to pursue external opportunities. A HSBC spokesperson declined to comment on the report. Since CEO Georges Elhedery took over the helm of HSBC in 2024 and initiated a comprehensive overhaul, the group has been cutting costs and focusing on its wealth management business. In addition to Moncreiffe, several other senior executives have also departed previously. Sources indicate that HSBC plans to appoint two executives to replace Moncreiffe, splitting the role into two positions.