HSBC global insurance CEO Edward Moncreiffe has confirmed he is leaving the bank after 20 years, according to a LinkedIn post published on 31 August.
Moncreiffe reflected on his two decades with HSBC and HSBC Life, referencing a succession of postings across the group’s global network before signalling plans to pursue a new chapter outside the bank.
“From Bricket Wood, to 27 Artillery Lane, to 8 Canada Square, to 1 Grand Canal Square, to 3064 Avenida Brigadeiro Faria Lima, to 1 Sham Mong Road and then finally to 1 Queens Road Central, it’s been a wonderful 20 years at HSBC and HSBC Life,” Moncreiffe wrote.
“Now it’s time to look forward to a new chapter.”
The announcement confirms earlier reports that Moncreiffe was preparing to leave HSBC in September after nearly two decades with the lender.
Moncreiffe took over as CEO of Global Insurance in 2024, having previously spent seven years as CEO of HSBC Life Hong Kong and Macau. During his tenure in Hong Kong, he oversaw one of the group’s most important insurance markets and helped expand HSBC’s insurance and wealth proposition across Asia.
Prior to his Hong Kong role, Moncreiffe held a series of senior positions across HSBC’s insurance and wealth businesses, including roles in Ireland, Brazil and the UK.
Reuters reported earlier that HSBC is planning to split Moncreiffe’s responsibilities between Daisy Tsang, CEO of HSBC Life Hong Kong and Macau and Kai Zhang, Asia head of international wealth and premier banking, in addition to their existing duties.
His departure comes during a period of strategic change at HSBC under CEO Georges Elhedery, who has reorganised the bank around geographic businesses, streamlined management structures and accelerated the disposal of non-core operations.
Insurance remains an important part of HSBC’s wealth strategy in Asia despite the restructuring. The business delivered strong growth in the first half of 2026, with insurance revenue increasing 20% year on year, outpacing the group’s overall wealth revenue growth.
The bank has nevertheless been reshaping parts of its insurance footprint. In July, HSBC agreed to sell its Singapore life and health insurance business to Allianz for S$2.7bn (US$2.1bn), describing the transaction as part of broader efforts to simplify the group and focus on areas of greater scale.
Moncreiffe’s successor(s) have not yet been formally announced by HSBC.
