Hong Kong — HSBC has announced its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.
“We do hope that the next CEO would lay out more plans, execution-wise, to further increase the bank’s businesses in Asian countries,” he added.
“I’ve held intensive leadership roles since I took on a commercial bank role in October 2008, so I’m personally ready for a change,” Quinn told reporters on a call.
HSBC also faced criticism in recent years from Western lawmakers over its dealings with China amid growing geopolitical tensions.
The London-headquartered bank also announced $3 billion worth of share buybacks on top of $2 billion in share purchases announced in February.
Persons:
Noel Quinn, —, Georges Elhedery, Quinn, ”, Simon Yuen, “ I’ve, I’m, ” Quinn, “ It’s, Mark Tucker, “, ” Tucker, China’s
Organizations:
HSBC, HSBC’s, Management, China’s Ping An Insurance
Locations:
Hong Kong, Asia, United States, France, Argentina, Canada, Europe, China, The London