Economy

HSBC appoints new CEO to replace retiring Stuart Gulliver

HSBC appoints new CEO to replace retiring Stuart Gulliver”

HSBC Holdings said on Thursday that John Flint, the current head of the retail banking and wealth management division, will succeed Stuart Gulliver as chief executive with effect from 21 February 2018. The Sunday Times reported at the weekend that HSBC had asked the Bank of England for permission to install Mr Flint as its new chief.

Flint says he's "humbled by the responsibility".

Mr Flint, now the head of the bank's retail bank and wealth management divisions, will replace Mr Gulliver from February 21 next year. He has worked across most of its business lines and spent the first 14 years of his career with the bank in Asia, giving him the breadth of experience seen as vital to the CEO role.

"The bank is very well-positioned for the future but we must continue to innovate and accelerate the pace of change required to meet the expectations of our shareholders, customers, employees, and society at large".

The appointment is the first big decision by the bank's new chairman, ex-AIA Group boss Mark Tucker, who joined HSBC at the start of this month.

"Through the search process, John has developed with myself and the board a clear sense of the opportunities and priorities that lie ahead".



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