A leading discussion on the integration of AI by the world's largest financial institutions, HSBC and Standard Chartered, as seen through the eyes of their CEOs, Georges Elhedery and Bill Winters.
Georges Elhedery, Group Chief Executive of HSBC, attends the Global Financial Leaders' Investment Summit, in Hong Kong, China on Nov 4, 2025. HONG KONG — HSBC Chief Executive Georges Elhedery said on Wednesday AI would destroy and create certain jobs in the financial industry, and the bank was retraining its workforce to meet the challenge.
Elhedery told an HSBC investor day event that staff needed to embrace AI-driven change rather than resist it and work with the bank on navigating the new technology.
"But my initial mission is I need 200,000 colleagues with us on this journey. However many will be left at the end of the journey isn't the problem.
"The problem is how can we make sure that those 200,000 colleagues have been given all the capabilities, the training, the tools to make themselves future ready, be more productive versions of themselves. " Elhedery said HSBC staff needed to ensure they were "not fighting us, not disenfranchised, not anxious, overwhelmed, and resisting the change".rival Standard Chartered announced it would slash thousands of jobsSpeaking during an investor day event, StanChart chief Bill Winters said the bank wanted to replace "lower-value human capital" with technology and other investments.
The emerging market-focused lender said it would cut 15 per cent of its corporate function roles by 2030, which, according to a Reuters calculation, would result in more than 7,000 redundancies out of the more than 52,000 people working in such roles. The comments from HSBC and StanChart show the world's top financial institutions are increasingly cost sensitive and scrambling to integrate frontier AI models and fend off rising cyber threats.
HSBC, which in March appointed David Rice as its first chief AI officer, has highlighted AI as the key to the bank's wider strategic goal of increasing its returns, via savings from automating and streamlining its processes. The bank is deploying AI across multiple functions and businesses to simplify operations and personalise content to customers, Elhedery said.
Its customer onboarding and Know Your Customer function, financial risk and monitoring, contact centres, and wealth management, are also undergoing an AI revamp, according to an investor presentation from the bank.
Please follow us on Google to support usHSBC AI Standard Chartered George Elhedery William Winters Bank Chief Executive Global Financial Leaders' Investment Summit Retraining New Technology Future-Ready Lower-Value Human Capital Cost Efficiency Cyber Threats Frontier AI Models Return Automation Strategic Goal
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