The Strategist

John Flint steps down as HSBC Bank Head

08/05/2019 - 12:31

Group CEO John Flint resigned and left the company’s board of directors, the organization’s press service said. He has been holding the post of CEO since October 2017 and has worked at HSBC for almost thirty years.

FuFuWolf via flickr
FuFuWolf via flickr
The bank explained the decision by “an increasingly complex and challenging global environment” in which the firm has to work. Flint, whose words are quoted in the press release, noted the bank’s good interim financial performance and called this situation suitable for change.

Earlier, the bank announced an increase in pre-tax profit in the first half of the year by 15.8%, to $ 12.4 billion (£ 10.2 billion).

HSBC will be temporarily headed by Noel Quinn, who has been managing the Global Commercial Banking division since 2015 and has been with the company for 32 years.