Aug 5, 2019

Flint to step down as HSBC chief executive

John Flint will step down as chief executive of HSBC, the bank announced on Monday, as it cited "An increasingly complex and challenging global environment". It will appoint Noel Quinn, who has been head of its global commercial banking unit since 2015, as interim chief executive until a successor to Mr Flint is appointed. HSBC is considering both external and internal candidates for the CEO role, the bank said. "HSBC is in a strong position to deliver on its strategy. In the increasingly complex and challenging global environment in which the bank operates, the board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us," said Mark Tucker, HSBC chairman. Mr Flint added: "I have agreed with the board that today's good interim results indicate that this is the right time for change, both for me and the bank. After almost 30 years with HSBC, I will be sad to leave but I do so looking forward to a new personal challenge, and confident that our people will continue to serve the bank's stakeholders in the best possible way."

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