The application of Transformer-based large models has achieved numerous success in recent years. However, the exponential growth in the parameters of large models introduces formidable memory challenge for edge deployment. Prior works to address this challenge mainly focus on optimizing the model structure and adopting memory swapping methods. However, the former reduces the inference accuracy, and the latter raises the inference latency. This paper introduces PIPELoAD, a novel memory-efficient pipeline execution mechanism. It reduces memory usage by incorporating dynamic memory management and minimizes inference latency by employing parallel model loading. Based on PIPELoAD mechanism, we present Hermes, a framework optimized for large model inference on edge devices. We evaluate Hermes on Transformer-based models of different sizes. Our experiments illustrate that Hermes achieves up to 4.24 x increase in inference speed and 86.7% lower memory consumption than the state-of-the-art pipeline mechanism for BERT and ViT models, 2.58 x increase in inference speed and 90.3% lower memory consumption for GPT-style models.