HSBC Holdings announced on Tuesday that it has officially appointed Noel Quinn to the role of Group Chief Executive Officer (CEO), with immediate effect, after more than seven months of being the interim CEO.
As Finance Magnates reported, Quinn has been the interim CEO of HSBC since August of last year, when John Flint stepped down after just eighteen months in the role, in what the bank said at the time was a mutual agreement with the Board.
Quinn joined HSBC in 1987
Quinn was previously the CEO of HSBC’s Global Commercial Banking unit, a role he had held since 2015. In fact, Quinn is a veteran with the bank, having spent 33 years working with the firm.
Commenting on the appointment, Group Chairman Mark Tucker, who led the global search, said in the statement: “Noel has proven to be the outstanding candidate to take on a role permanently that he has performed impressively on an interim basis since August 2019. He is a strong and proven leader with extensive global banking expertise, deep client relationships and the energy and skill to drive the business forward at pace.”
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“In the last few months Noel has worked closely with the Board to agree the key actions required to build and enhance performance on a sustainable basis. He has shown a great understanding of HSBC, the challenges we face and the significant opportunities for growth that lie ahead. We wish him the very best in taking HSBC forward.”
The appointment of Quinn was approved unanimously by the UK-headquartered bank’s board of directors and followed his approval from regulators, who signed off on his appointment on Tuesday.
“I am honoured to be given the opportunity to lead HSBC as Group CEO. In leading the bank on an interim basis for the last few months, I have really enjoyed working with Mark, the Board and over 230,000 colleagues around the world to reposition the Bank for success in the future,” Quinn added.
“HSBC is an outstanding global company with talented and dedicated people. There is much that remains to be done and I am confident that we will rise to the challenge and deliver for our shareholders, customers, employees and society at large.”