10:26 AM EDT, 05/15/2024 (MT Newswires) -- (Updates with HSBC ( HSBC ) declines to comment in last paragraph.)

HSBC Holdings ( HSBC ) is considering naming its new chief executive officer from a shortlist of internal candidates as it initiates the search for outgoing CEO Noel Quinn's successor, Bloomberg reported Wednesday, citing people familiar with the plan.

Georges Elhedery, the company's chief financial officer, and Nuno Matos, the head of wealth and personal banking, are considered the leading candidates to succeed Quinn, the report said.

An external candidate may want to adopt a new strategy, which has prompted the board to be more inclined to support internal talent, the report quoted the sources as saying.

The search for a new CEO is only beginning, and the board may still decide to go in another direction, the report said.

HSBC ( HSBC ) declined MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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