Key Points:
- Hughes named HSBC CEO ANZ (2026)
- Shaw exits after 19 years
- Focus on growth & wholesale banking
HSBC has appointed Steve Hughes as its next CEO and head of Banking for Australia and New Zealand. His term will begin on January 1, 2026. The company confirmed the leadership change as part of its regional management transition.
Steve Hughes joined HSBC in 2015. He has held several senior roles in the bank’s regional operations. Since January 2023, he has overseen the wholesale banking division for Australia and New Zealand. Before joining HSBC, he spent more than two decades at The Royal Bank of Scotland. His work there focused on international banking operations and large corporate clients.
Transition in Regional Leadership
The appointment follows the planned departure of Antony Shaw, who will step down as CEO for Australia and New Zealand at the end of the year. Shaw has been with HSBC for more than 19 years. He moved into his current role in September 2022. His career spans over 30 years in the banking sector, with experience across both local and global institutions.
HSBC said the changes reflect a structured transition within its regional business. Hughes will lead the bank’s strategy and operations across both markets. His experience in wholesale banking and cross-border financial services gives him a strong background for the role.
Focus on Regional Business Growth
The leadership shift comes as HSBC continues to shape its business in Australia and New Zealand. Both markets remain active hubs for corporate banking, trade finance, and international banking services. Hughes is expected to support clients across sectors that rely on cross-border flows and global networks.
His appointment signals continued focus on wholesale banking and regional business expansion. The bank aims to strengthen its operating structure and support clients with evolving financial needs.
Continuity Across Banking Operations
With Steve Hughes taking charge, HSBC aims to maintain continuity in its local banking operations while supporting broader regional priorities. His background in international finance aligns with the bank’s role in servicing companies with global reach.
The transition marks the end of Shaw’s long tenure with the company. He has led teams across several divisions during his time at HSBC. His experience also includes leadership roles in other major institutions.
The bank stated it has notified employees and clients about the leadership change as part of its ongoing communication process.
