Executives October 13, 2017 —by Valentina Kirilova  0




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HSBC Holdings plc (NYSE:HSBC) introduced that John Flint, Chief Govt of Retail Banking and Wealth Administration, will succeed Stuart Gulliver as Govt Director and Group Chief Govt. This might be efficient from 21 February 2018 after Stuart has stepped down from each roles and retired from HSBC.

Group Chairman Mark Tucker, who led the search to determine Stuart’s successor, mentioned:

John has broad and deep banking expertise throughout areas, companies and capabilities. He has an incredible understanding and regard for HSBC’s heritage, and the fervour to construct the financial institution for the subsequent technology. By means of the search course of, John has developed with myself and the Board a transparent sense of the alternatives and priorities that lie forward. Over the approaching months, earlier than he formally takes over the Group CEO position from Stuart, we might be working carefully collectively to develop and agree the important thing actions required to make sure we construct on and improve HSBC’s present momentum.

John Flint, Chief Govt of Retail Banking and Wealth Administration at HSBC, joined the financial institution in 1989:

I’m humbled by the accountability and enormously excited by the chance to guide HSBC as Group CEO. The financial institution may be very well-positioned for the longer term however we should proceed to innovate and speed up the tempo of change required to fulfill the expectations of our shareholders, prospects, workers and society at giant. I’m wanting ahead to working with Mark, the Board and over 230,000 colleagues world wide to make this nice financial institution even higher.

Commenting on Stuart’s retirement, Mark Tucker shared:

Stuart has led HSBC by means of a difficult and troublesome interval with nice power and dedication and efficiently reshaped the enterprise technique of the financial institution. I wish to thank him on behalf of the Board for all the things he has performed for HSBC. This consists of the necessary work of putting in world requirements for figuring out and stopping monetary crime. Since January 2011 the financial institution has paid US$60.7bn in dividends, introduced an extra US$5.5bn of share buybacks, and delivered a complete shareholder return of 66.eight%. That is an excellent observe report.

Stuart Gulliver concluded:

It has been my nice privilege to guide HSBC as Group CEO for the final seven years. My main position as Group CEO is stewardship and at hand the corporate to my successor in higher form than after I began. After essentially the most in depth restructuring of the financial institution in its historical past and a relentless give attention to assembly the evolving expectations of society I’m assured HSBC is in higher form than it was seven years in the past. I do know that with Mark and John main the organisation, it’s in nice fingers.