As HSBC Holdings Plc’s top executives queued up last month to publicly welcome the installation of Georges Elhedery as the bank’s next chief executive officer, one prominent voice was notably absent from the social media toasts: Nuno Matos.
His disappointment was understandable. Having reached the final round of the appointment process to replace Noel Quinn as CEO, HSBC’s wealth and personal banking head was passed over for the role by the board in favor of the lender’s chief financial officer, Elhedery. Now Matos is leaving Europe’s largest bank.