HSBC Appoints Julian Wentzel as Chief Sustainability Officer

HSBC has appointed Julian Wentzel as its Group Chief Sustainability Officer. Wentzel, who joined the bank in 2015, had been fulfilling the role on an interim basis following the departure of Celine Herweijer in November.

Wentzel previously served as HSBC’s head of global banking for the Middle East, North Africa, and Turkey, where he advised clients on sustainability strategies. “I have worked at the forefront of supporting our customers—some of whom face the most ambitious and challenging transitions—to finance and deliver against their sustainability ambitions. I am looking forward to leveraging this experience at greater scale,” he stressed.

HSBC’s appointment of a career banker instead of a sustainability expert has drawn criticism from climate activists, who view the move as a potential shift in priorities. The decision follows a broader restructuring under Georges Elhedery, CEO, HSBC, who has reorganized the bank’s divisions and reduced its investment banking operations in the West.

The announcement comes at a time when banks face increasing scrutiny over their climate commitments. HSBC unveiled its first net-zero transition plan last year, outlining its strategy to help high-emission clients decarbonize. However, financial institutions have warned that achieving climate goals remains challenging without clearer policy direction from governments.

US banks, in particular, have been distancing themselves from climate alliances amid political uncertainty. Several major Wall Street firms recently exited the Net-Zero Banking Alliance ahead of the return of President Donald Trump.

HSBC has emphasized that Wentzel’s experience in global banking will be crucial to advancing the bank’s sustainability agenda. “His leadership and depth of experience across Global Banking and its infrastructure products will be key to enabling further progress in supporting our portfolio of customers to diversify and decarbonize,” stated Pam Kaur, CFO, HSBC.