HSBC chief executive out in top level reshuffle

The chief executive of HSBC has stepped down after the bank said it needed a change in leadership to address a "Challenging global environment". John Flint is giving up the role he has held for a year and a half "By mutual agreement with the board". He will immediately cease his day-to-day responsibilities at HSBC but will help with the transition as Noel Quinn takes over as interim chief executive. He said: "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."

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