AdvertisementBusinessFILE PHOTO: The HSBC building in Canary Wharf in London October 8, 2008. REUTERS/Kevin Coombs/File Photo23 Mar 2026 09:13PM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST LONDON, March 23 : HSBC has appointed David Rice as its first ever Chief AI Officer, the British bank said on Monday, as it seeks to cut costs by increasing the use of generative AI technology across its businesses worldwide.HSBC CEO Georges Elhedery has highlighted AI as the key to the bank's wider strategic goal of increasing its return on tangible equity to above 17 per cent for 2026-2028, via savings from automating and streamlining its processes. Rice was previously the Chief Operating Officer for HSBC’s Corporate and Institutional Banking business. Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST