HSBC has appointed David Rice as its first-ever Chief AI Officer, reinforcing its commitment to expanding generative AI across global operations.
The move highlights the bank’s focus on cost efficiency and digital transformation, with AI expected to streamline processes and enhance productivity.
CEO Georges Elhedery has identified artificial intelligence as central to HSBC’s strategy to boost returns on tangible equity in the coming years.
The bank is targeting returns above 17% between 2026 and 2028, supported by automation-driven savings and operational improvements.
Rice previously served as Chief Operating Officer for HSBC’s Corporate and Institutional Banking division, bringing extensive internal experience to the new role.
His appointment signals a broader push to embed AI-driven solutions across business lines, from risk management to client services.
HSBC aims to leverage generative AI to simplify workflows, reduce manual tasks, and unlock scalable efficiencies across its global network.
The creation of the role underscores the bank’s ambition to remain competitive in a rapidly evolving, technology-led financial landscape.
