Sydney, New South Wales, Australia, January 2026 — HSBC has announced the appointment of Steve Hughes as Chief Executive Officer, Australia and New Zealand. In this role, Hughes will lead HSBC’s Corporate & Institutional Banking and International Wealth & Premier Banking businesses across Australia and New Zealand, strengthening the bank’s regional growth agenda and deepening connectivity with high-growth global markets.
Commenting on his appointment, Hughes highlighted the growing integration of Australia and New Zealand with global capital flows and international trade corridors, emphasizing HSBC’s strong positioning through its people, local market expertise and global network. He also acknowledged the leadership of Antony Shaw, under whose stewardship HSBC further strengthened its regional footprint.
Hughes has spent more than a decade with HSBC, most recently serving as Managing Director, Head of Banking Australia & New Zealand, Corporate and Institutional Banking, where he led strategic growth across corporate and institutional segments and strengthened cross-border banking platforms.
Earlier, he served as Managing Director, Head of Wholesale Banking, Australia & New Zealand, overseeing integrated wholesale banking operations and driving market expansion strategies.
Prior to HSBC, Hughes spent over two decades at The Royal Bank of Scotland (RBS), where he held senior leadership roles including Managing Director, Head of Corporate Coverage Australia, Head of Corporate DCM Australia, Co-Head of Asia Pacific Syndicate, and Head of Asia Pacific Loan Markets, playing a critical role in shaping RBS’s Asia-Pacific corporate banking and capital markets franchise.
About HSBC
HSBC is one of the world’s largest banking and financial services organizations, serving more than 40 million customers across 58 countries and territories. Listed on the London, Hong Kong, New York and Bermuda stock exchanges, HSBC provides a comprehensive range of banking, wealth management and investment services to individuals, businesses and governments globally.
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