HSBC’s CIO Stuart Riley on AI and Digital Transformation

Stuart Riley joined HSBC as Group Chief Information Officer in February 2024, following 14 years at Citigroup.

There, he advanced to become Co-Chief Information Officer, overseeing technology for 50,000 employees in 100 countries. Just eight months into his position at HSBC, HSBC widened his remit to include Data and Innovation. This move could indicate that his initial approach has been effective.

His career began with the founding of TAG Consulting in 1996, where he was a Partner and Development Manager for five years.

This period provided him with experience inside smaller enterprises, which later contrasted with his leadership roles in large corporate environments. In 2002, he moved to RBS as Technology Manager for FX ecommerce, which was his first role in investment banking technology.

This was followed by a six-year tenure at Deutsche Bank between 2003 and 2010, where he progressed through several roles, including Head of Rates e-commerce and Global Head of Global Finance and Foreign Exchange Technology.

Technology leadership at Citigroup

Stuart's 14 years at Citigroup, which started in 2010, were a major part of his career. He was first brought on to manage e-commerce in Sales and Trading, where he led the creation of Citi Velocity, a collection of digital products that saw wide adoption.

His career progressed through leadership roles in Capital Markets, Securities Services, Investment Banking and more, culminating in his appointment as Global Head of Institutional Client Group Technology.

In this position, he managed a team of more than 50,000 technologists and operations staff across 100 countries with an operating budget that exceeded US$4bn a year.

His promotion to Co-Chief Information Officer in September 2023 involved leading AI initiatives and having oversight of global technology and infrastructure.

His work in this area at Citigroup involved an early acknowledgement of the importance of data for AI that led to large investments in private cloud infrastructure.

Spearheading HSBC’s digital and data strategy

Upon joining HSBC as Group Chief Information Officer in February 2024, Stuart was tasked with heading HSBC's technology strategy.

His work is focused on enabling the delivery of an efficient and innovative digital bank. Following his appointment to the Group Executive Committee, his role was expanded to include Data and Innovation.

At HSBC, Stuart is responsible for implementing HSBC’s Digitise strategy and addressing its complex IT infrastructure. HSBC currently utilises AI in more than 600 applications covering areas from fraud detection to customer service.

When it comes to AI, Stuart says: “Whilst some overestimate AI's short-term impact, I believe many significantly underestimate its long-term potential”. This view suggests a focus on foundational long-term development over short-term trends.

Broader industry influence and social impact

Beyond his direct corporate duties, Stuart is involved with diversity and education initiatives. He is the Executive Sponsor for Strive UK at HSBC, an employee resource group that supports colleagues from varied economic backgrounds.

He is also an Expert Member of Teach First's Technology Committee, contributing to technology transformation in the education sector.

His influence extends to other companies. Stuart's appointment to Quantexa's board in February 2025 shows his growing presence in the wider industry.

He also holds an Advisory Role at HiveNet on sustainable cloud computing and is a Member of BP's Digital Advisory Council as BP navigates its net-zero transition.

His career path from Software Engineer to a Senior Executive who remains engaged with technical details is a combination that is not always common in the upper levels of banking.