Veteran bank executive takes helm amid overhaul and regulatory focus
HSBC has appointed David Lindberg (pictured right) as chief executive of its UK Bank, following regulatory approval, as the lender seeks to reinforce its position in its core domestic market.
Lindberg, who previously led retail banking at NatWest Group, will replace Ian Stuart, who is moving to the newly established role of customer and culture director.
Lindberg brings over 27 years of experience in financial services, having held senior roles at NatWest, Westpac, the Commonwealth Bank of Australia, and ANZ. He will also join HSBC’s Group Operating Committee.
The appointment comes as HSBC continues a major reorganisation under group chief executive Georges Elhedery, who took on the role in September 2024. The bank has been restructured into four principal divisions: Hong Kong, the UK, corporate and institutional, and wealth management – a move is intended to simplify operations and accelerate the delivery of its strategy.
Meanwhile, CityAM reported that HSBC’s share price rose by nearly 2% to 987.80p in early trading following the announcement of its new UK chief. This increase came after the bank’s shares had dropped more than 2.5% on Friday amid an industry-wide sell-off triggered by concerns in the US markets.
HSBC shares jump after naming top Natwest boss as new UK chief https://t.co/jkMYs1x822
— City A.M. (@CityAM) October 21, 2025
“I am delighted that David is joining HSBC to lead our UK business,” Elhedery said. “As one of our two home markets, the UK is core to our foundational strength as a group.
“David brings with him an impressive focus on the customer, deep international experience and a clear vision for the future as we invest in innovation to grow our business and put our customers at the heart of everything we do.”
The leadership change also comes at a time of heightened competition from digital banks and increased regulatory scrutiny. The bank’s board has expressed confidence in Lindberg’s ability to drive customer-focused growth.
“David’s track record of delivering ambitious growth strategies through an aspirational culture that puts the customer at the heart of the business will take us into the next stage of growth,” said Dame Clara Furse, chairman at HSBC UK. “The Board looks forward to supporting him as HSBC UK works to enhance the ways it brings the benefits of HSBC's financial strength and international network to customers in the UK.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
