Flint assumed the role of CEO in February of 2018.
HSBC Holdings plc’s leader John Flint has stepped down, the bank announced this Monday, after just eighteen months in the role, in what it says was a mutual agreement with the Board.
The announcement of Flint’s resignation follows on the heels of the London-headquartered firm releasing its financial results for the second quarter and the first half of 2019, in which it posted a $4.4 billion profit during the quarter, up from $4.1 billion in the same period of 2018.
The Board has asked Noel Quinn to take up the reigns during the transition period and assume the role of interim CEO, as well as join the Board as an Executive Director until a successor has been appointed. This is subject to regulatory approval.
At present, Quinn is the CEO of HSBC’s Global Commercial Banking unit, which he has been since 2015. Quinn is a veteran with the bank, having spent 32 years working with the firm.
Commenting on his departure, John Flint said: “It has been a privilege to spend my entire career with HSBC, rising from International Officer Trainee to serve as Group Chief Executive. I am grateful to my wonderful colleagues at the Bank for their support during my career, and I am proud of what we achieved together.
“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.”
Flint leaves HSBC after 30 years
Flint first joined HSBC back in 1989. He spent the first 14 years of his career working in the company’s Asia operations, expanding the bank’s global market business. In 2004, he moved to London where he rose through the ranks to take on the top position last year.
According to the statement, the Board has begun the process of looking for a new CEO. As part of this, it will consider both internal and external candidates.
“On behalf of the Board, I would like to thank John for his personal commitment, dedication and the significant contribution that he has made over his long career at the Bank. Today’s positive interim results particularly reflect John’s achievements as Group Chief Executive,” added Mark Tucker, Group Chairman of HSBC.
“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.”
HSBC Holdings plc’s leader John Flint has stepped down, the bank announced this Monday, after just eighteen months in the role, in what it says was a mutual agreement with the Board.
The announcement of Flint’s resignation follows on the heels of the London-headquartered firm releasing its financial results for the second quarter and the first half of 2019, in which it posted a $4.4 billion profit during the quarter, up from $4.1 billion in the same period of 2018.
The Board has asked Noel Quinn to take up the reigns during the transition period and assume the role of interim CEO, as well as join the Board as an Executive Director until a successor has been appointed. This is subject to regulatory approval.
At present, Quinn is the CEO of HSBC’s Global Commercial Banking unit, which he has been since 2015. Quinn is a veteran with the bank, having spent 32 years working with the firm.
Commenting on his departure, John Flint said: “It has been a privilege to spend my entire career with HSBC, rising from International Officer Trainee to serve as Group Chief Executive. I am grateful to my wonderful colleagues at the Bank for their support during my career, and I am proud of what we achieved together.
“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.”
Flint leaves HSBC after 30 years
Flint first joined HSBC back in 1989. He spent the first 14 years of his career working in the company’s Asia operations, expanding the bank’s global market business. In 2004, he moved to London where he rose through the ranks to take on the top position last year.
According to the statement, the Board has begun the process of looking for a new CEO. As part of this, it will consider both internal and external candidates.
“On behalf of the Board, I would like to thank John for his personal commitment, dedication and the significant contribution that he has made over his long career at the Bank. Today’s positive interim results particularly reflect John’s achievements as Group Chief Executive,” added Mark Tucker, Group Chairman of HSBC.
“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.”
Noel Quinn's Surprise Exit Marks End of an Era at HSBC
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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