HSBC Bank Middle East appoints new chairman

middle-east bank chairman hsbc middle
Middle East

HSBC Bank Middle East appoints new chairman

HSBC Middle East has appointed a new chairman of the boards to replace David Eldon, who is stepping down this month. Samir Assaf, currently serving as the bank's chairman of corporate and institutional banking, will assume his new position on May 1, the bank said on Thursday. His predecessor, Eldon, who has been with the bank in the Middle East for more than 50 years, will step down at the end of April. Eldon has been serving as chairman for almost ten years. The bank said Assaf has a wealth of international banking experience, as well as a deep understanding of the Middle East market. The bank has presence in various markets around the world.  HSBC Holdings' pre-tax profit plunged 34 percent to $8.78 billion in 2020. As of the third quarter last year, income at nearly all of HSBC's MENA business segments improved on a quarterly basis, according to a report from S&P Global. (Writing by Cleofe Maceda; editing by Seban Scaria) [email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here. © ZAWYA 2021

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