HSBC investment bank co-head takes 6 months break

LONDON (Reuters) – The co-head of HSBC’s investment bank Georges Elhedery will take a 6-month sabbatical from the bank starting in March, according to an internal memo seen by Reuters on Friday.

Greg Guyett, who co-heads the Global Banking and Markets business with Elhedery, will take over sole responsibility for the division.

Elhedery plans to “spend time with his family in various parts of the world as well as explore a number of personal interests,” the HSBC memo said.

He will return to his job in September, the memo added.

A spokesman for the bank confirmed the contents of the memo.

The Financial Times earlier reported Elhedery’s sabbatical.

(Reporting By Lawrence White and Saeed Azhar, Editing by Iain Withers)