HSBC CEO Noel Quinn to step down after five years in the role
Banking heavyweight HSBC has announced that its group CEO Noel Quinn is set to retire after five years in the role, leaving the bank hunting for his successor.
HSBC CEO Noel Quinn to retire after five-year tenure
Commenting on his decision to step down, Quinn remarks that “after an intense five years it is now the right time for me to get a better balance between my personal and business life”.
The outgoing CEO adds he plans to “pursue a portfolio career going forward”.
HSBC chairman Mark Tucker says Quinn helped drive the bank’s transformation strategy and established a “more focused business that delivers higher returns” during his tenure.
Quinn began his career at HSBC in 1987, ascending through various roles including head of commercial finance for Europe and regional head of commercial banking for the Asia Pacific region. He also previously served as the bank’s chief executive of global commercial banking.
He succeeded John Flint as interim CEO in August 2019 before his position was made permanent in March 2020.
HSBC has revealed that its board has already initiated a “formal process” to find Quinn’s successor, considering both internal and external candidates.
During this search for a replacement, Quinn has agreed to continue in his current role to “ensure a smooth and orderly transition”.
