HSBC banker avoids Hong Kong move after objections

Posted by PSR_AXP 28 days ago
Back in April 2021, HSBC’s CEO Noel Quinn signalled an acceleration of the bank’s strategic shift to Asia with the announcement that Greg Guyett, co-head of HSBC’s global banking and markets division would relocate to Hong Kong “in the second half of the year,” along with Nuno Matos, chief executive of wealth and personal banking, Barry O’Byrne, chief executive of global commercial banking and Nicolas Moreau, head of asset management.
Moreau, Matos and O’Byrne packed up and dutifully headed to Hong Kong, but Guyett delayed his move, telling colleagues that Hong Kong’s draconian COVID-19 quarantine laws made it impossible to visit clients and colleagues across the world, given his global responsibilities. He was also understood to be reluctant to shift his family across.
At least he went. Guyett has gone nowhere. In January 2022, the relocation plan was delayed further when Georges Elhedery, Guyett’s co-head who ran the markets division, said he was taking a six-month sabbatical for “personal development and growth.” Guyett promptly declared that he was going nowhere because, "adding a personal move on top of the expansion of my responsibilities is a bridge too far.” 

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