HSBC has appointed David Eldon non-executive director and chairman of HSBC Bank in the Middle East, with effect from May 1.
The appointment takes Eldon full circle and puts him in charge of a region where he has spent a considerable part of his working career. He joined HSBC in Dubai in 1968 and spent 11 years in the Middle East, across four assignments, before he was transferred to Hong Kong in 1979 as manager, special projects. After a five-year stint in Hong Kong, Eldon relocated to the Middle East again in 1984 when he became deputy managing director of the Saudi British Bank, HSBC’s joint venture in Saudi Arabia.
Eldon returned to Hong Kong in 1987 to take up the position of senior manager international corporate accounts. He was made an executive director of the Hongkong and Shanghai Banking Corporation in 1994 and took over as chief executive officer in 1996. In 1999 he was promoted to chairman and made a director of HSBC Holdings. He retired from HSBC Group in 2005.
“The insight and knowledge that David brings, of both the Middle East and Asia-Pacific regions, will help HSBC continue to service one of the world’s fastest growing trade and business corridors,” said Stuart Gulliver, HSBC group chief executive, in a written statement announcing the appointment.
Since 2006, Eldon has also been non-executive chairman of the Dubai International Financial Centre Authority.