HSBC Names Steve Hughes CEO of Australia & New Zealand Banking
Veteran banker to take reins from January 2026 as Antony Shaw steps down
The banking group HSBC has announced that Steve Hughes will become Chief Executive Officer and Head of Banking for Australia and New Zealand effective January 1, 2026. Hughes succeeds Antony Shaw, who will step down from his current role by the end of 2025, with his next assignment yet to be disclosed.
Hughes joined HSBC in 2015 and was appointed Head of Wholesale Banking for Australia and New Zealand in January 2023. He brings over two decades of international banking experience from his tenure at The Royal Bank of Scotland (RBS) where he worked in London and later in Australasia in senior relationship- and product-banking roles.
According to HSBC, Hughes will lead the bank’s banking operations across Australia and New Zealand, encompassing both corporate and institutional clients.
Shaw was appointed CEO of HSBC Australia & New Zealand in September 2022 and has over thirty years of banking industry experience across both domestic and international institutions.
The bank stated that Shaw’s future role within HSBC will be announced in due course.
The leadership transition comes as HSBC reinforces its regional presence and seeks to leverage Hughes’s experience to deepen local client relationships and expand service offerings in a competitive banking environment.
Hughes’s appointment signals continuity in HSBC’s strategy for the region, while also allowing for fresh leadership ahead of evolving market conditions in Australia and New Zealand.
With his established tenure in the region’s wholesale banking operations, Hughes is expected to build on existing momentum and focus on growth opportunities in institutional banking, global connectivity and client servicing.
The announcement from HSBC was published on November 20, 2025, confirming the leadership transition timeline and succession planning for the Australia and New Zealand banking division.
Hughes joined HSBC in 2015 and was appointed Head of Wholesale Banking for Australia and New Zealand in January 2023. He brings over two decades of international banking experience from his tenure at The Royal Bank of Scotland (RBS) where he worked in London and later in Australasia in senior relationship- and product-banking roles.
According to HSBC, Hughes will lead the bank’s banking operations across Australia and New Zealand, encompassing both corporate and institutional clients.
Shaw was appointed CEO of HSBC Australia & New Zealand in September 2022 and has over thirty years of banking industry experience across both domestic and international institutions.
The bank stated that Shaw’s future role within HSBC will be announced in due course.
The leadership transition comes as HSBC reinforces its regional presence and seeks to leverage Hughes’s experience to deepen local client relationships and expand service offerings in a competitive banking environment.
Hughes’s appointment signals continuity in HSBC’s strategy for the region, while also allowing for fresh leadership ahead of evolving market conditions in Australia and New Zealand.
With his established tenure in the region’s wholesale banking operations, Hughes is expected to build on existing momentum and focus on growth opportunities in institutional banking, global connectivity and client servicing.
The announcement from HSBC was published on November 20, 2025, confirming the leadership transition timeline and succession planning for the Australia and New Zealand banking division.
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