HSBC confirmed Lisa McGeough has stepped down from her role as President and CEO of the bank’s US operations after serving only 9 months in the role
She will be succeeded by Jason Henderson on an interim basis.
Revealed in an Securities and Exchange Commission (SEC) filing submitted by HSBC on August 29, the bank noted McGeough was leaving the bank “to pursue new opportunities outside of HSBC”.
Appointed in January 2025, McGeough was based in New York where she oversaw the bank’s growth in the US and wider North American region.
She was the first woman HSBC executive in North America in the last 10 years, joining the bank having worked at Wells Fargo for 15 years where she held the role of Executive Vice-President and Head of International.
“She leaves with our best wishes and thanks for her many contributions since she joined the bank in 2021,” HSBC said in its SEC filing.
HSBC in the US
McGeough’s departure comes after HSBC announced in June 2025 that it plans to close its business banking portfolio in the US in order to place a stronger focus on emerging markets in Asia and the Middle East.
With a reported 4,500 HSBC business banking partners affected, the bank also announced it will be slowing down its mergers and acquisitions in North and South America, as well as Europe.
HSBC sold its retail banking unit to Bank of Bahrain and Kuwait in February 2025, excluding its corporate and private banking businesses in Bahrain.
McGeough’s departure as US CEO after just nine months, and with HSBC downsizing its banking operations in the country, begs the question of whether the bank sees more growth potential outside the US.
“The United States remains a critical market within HSBC’s international network and central to its growth strategy,” said HSBC in its filing.
Who’s filling her shoes?
Henderson takes on the role as an interim appointment having spent nearly two decades at HSBC.
He was previously Deputy US Head of Banking and will continue these duties alongside his new role.
Henderson has held several roles in North America for HSBC, including Regional Head of Markets (January 2020-February 2025), and Head of Global Banking and Markets in Canada (May 2010-January 2020).
