Digital Assets

John Flint steps down as HSBC CEO

HSBC has announced that John Flint is stepping down as CEO and is to be replaced by Noel Quinn until a permanent appointment is found to fill the position.

Flint held the position for less than two year. HSBC has not disclosed the reasoning for the decision, according to a report by Citywire Asia.

Flint said in a statement “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 was promoted following the departure of Stuart Gulliver, who retired in 2018. Noel Quinn, his temporary successor, has been chief executive for global commercial banking at HSBC since 2015.

A HSBC spokesman has said that “the board believes a change is needed to meet the challenges that we face and to capture the very significant opportunities before us.” The bank has also stated that it will be looking at external candidates to fulfill the CEO position.