HSBC boss Quinn to depart after 'intense' five years as profits ease
Shares were flat in Hong Kong in the wake of HSBC's announcements which included a rise in the pace of share buybacks despite the weaker profits performance.
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Shares were flat in Hong Kong in the wake of HSBC's announcements which included a rise in the pace of share buybacks despite the weaker profits performance.
HSBC has unexpectedly announced that its group chief executive Noel Quinn will retire after almost five years in the role and has started searching for a successor to lead Europe's largest bank.
HSBC, which reported a 1.8% drop in pretax profit to hit $12.7 billion, will now need to find a new CEO, the third such search under chairman Mark Tucker.
Chief executive’s departure sounds sensible enough but successor will inherit heavy strategic workload
HSBC today (April 30) announced that its CEO Noel Quinn is stepping down without naming a clear successor. The British bank also reported first-quarter earnings today.