HSBC Appoints David Rice as Its First Chief AI Officer

HSBC has announced the appointment of David Rice as its first Chief AI Officer, effective April 1, 2026. Rice, who previously served as Chief Operating Officer for HSBC's Corporate and Institutional Banking business, takes on the newly created role as the bank moves to deploy generative AI tools across its global operations.

The appointment gives HSBC dedicated executive leadership for AI adoption at the enterprise level. Most large global banks have not created a standalone AI leadership role, typically embedding those responsibilities within the Chief Technology Officer's remit instead.

CEO Georges Elhedery has made AI central to HSBC's financial targets. The bank is aiming to increase its return on tangible equity above 17% for 2026 to 2028, with savings from AI-driven automation and process improvements forming a core part of that plan.

"Our customers increasingly expect their bank to deliver services uniquely aligned to their specific needs, and fast," Elhedery said. "Our ambition here is simple. We will empower our colleagues to use AI to create a personalized experience for each customer, deliver it safely, in real time and at scale, while keeping human judgement, decision-making and accountability at the core. David will be instrumental in helping us realise our ambition in this area."