(24 March 2026 – United Kingdom) HSBC has appointed its first Chief AI Officer (CAIO) as it seeks to slash operating costs and improve revenue by greatly expanding the use of generative AI technology across the group’s business units globally.
David Rice, previously COO for HSBC’s corporate and institutional banking business (CIB), is set to commence in the role from 1 April. The new role is designed to provide clear enterprise leadership for AI adoption within HSBC in support of its ambition to build a bank designed for the future by embedding AI solutions that benefit colleagues and customers.
Rice’s appointment comes as part of a wider focus on deploying AI at scale across HSBC by making generative AI tools available to all staff to simplify processes, procedures and policies, and equip customer-facing colleagues with the AI tools they need to deliver more personalised services.
HSBC also announced it was expanding the remit of Mario Shamtani in his role as CTO to strengthen its technology foundations to deploy AI at scale. This includes modernising core platforms, building a central AI platform colleagues can use to access a range of models, and leading key strategic partnerships.
“AI is going to play an ever-increasing role in HSBC’s future plans, so I am thrilled to take on this new role to help us drive forward our transformation agenda” David Rice commented on his appointment.
“Our customers increasingly expect their bank to deliver services uniquely aligned to their specific needs, and fast. That’s why we’re building a bank that is designed for the future. AI plays a key role in how we get there. Our ambition here is simple – we will empower our colleagues to use AI to create a personalised 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” stated HSBC Group CEO, Georges Elhedery.