Home Business NewsBusinessBanking News HSBC chief executive John Flint ousted

HSBC chief executive John Flint ousted

by LLB Editor
5th Aug 19 9:36 am

The chief executive of HSBC has quit just after 18 months in the role.

The bank said HSBC needed to reshuffle its top management team to cope with a “challenging global environment”.

Flint, who held the role for a year-and-a-half, will immediately step down from the position and will hand over his day-to-day responsibilities at HSBC to Noel Quinn who takes over as interim chief executive.

Chairman Mark Tucker 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.”

Flint said: “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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