HSBC CEO Noel Quinn quits after 37 years of service, search for successor on
Canada and Argentina branches, ANI reported.
HSBC’s Hong Kong-listed shares rose nearly 1.5 per cent in afternoon trade Tuesday, while its London-listed stock increased by 2.5 per cent in early trading, Financial Times reported.
The search for Quinn’s successor is underway, with the bank considering both internal and external candidates. Quinn, 62, who also steered the banks shift in focus to Asia, will remain in his role to oversee the transition until a new CEO is appointed.
Reflecting on his tenure, Quinn, who started his career 37 years ago, said he never thought he would become the Group Chief Executive of HSBC one day. Britain's main stock indexes rose on April 30 and were set for their second consecutive month of gains, driven by optimism around corporate earnings, while HSBC climbed after upbeat results and a share buyback offset news about its CEO's departure, as per Reuters.
Quinn expressed his gratitude towards his colleagues and shared his plans for the future, "After an intense five years, it’s time for me to seek a better work-life balance and I look forward to pursuing a portfolio career." HSBC Chairman Mark Tucker commended Quinn for his exemplary leadership since assuming the role in 2019 and throughout his distinguished 37-year tenure with the bank. "Noel has significantly shaped the bank’s trajectory, driving our transformation strategy towards a simpler and more efficient organization that delivers higher returns," Tucker remarked.
Tucker also noted that the bank is well-positioned for continued growth and development.
According to the Financial Times report, Tucker refused to answer a question on whether HSBC chief financial officer Georges Elhedery will take over the top post, but said the bank had “a
