HSBC Holdings plc has announced that John Flint has stepped down as Group chief executive and as a director by mutual agreement with the Board. Although not carrying out his day-to-day duties after today, he remains available to assist HSBC with the transition.
Mark Tucker, Group chairman of HSBC, said: "On behalf of the Board, I would like to thank John for his personal commitment, dedication and the significant contribution that he has made over his long career at the Bank. Today's positive interim results particularly reflect John's achievements as Group chief executive.
John Flint said: "I have agreed with the Board that today's good interim results indicate that this is the right time for change, both for me and the Bank. 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."
The Board has initiated a process to find a new Group chief executive. The Board will be considering internal and external candidates.
During the search period the Board has asked Noel Quinn to assume the role of interim Group chief executive until a successor is appointed and to join the Board as an executive director. The appointment is subject to regulatory approval.
Quinn is chief executive, Global Commercial Banking, a position he has held since 2015. He brings a track record of business success, strong client relationships and deep global expertise from his 32 years with HSBC.